USDX (USD Index)

The roller coaster occurred in the U.S. dollar index which weakened after the release of inflation data but bounced from the daily SMA 200 after the Fed meeting. The index situation is bullish today even though PPI inflation data is showing a downward trend. The index maintains its bullish pressure and has the opportunity to continue its increase. Because this year it is estimated that there will only be one cut in interest rates, sentiment has returned to being bearish for now. It is possible that sentiment will not change for the next 1-3 months.

EUR/USD

EUR/USD managed to make a bullish close above 1.0800 and the daily SMA 200 yesterday. However, the pair appears to be weakening again today and erasing most of the gains that occurred yesterday. If the pair continues to weaken and erases all the gains that occurred yesterday, the bearish trend is expected to continue again.

Today’s critical levels to watch:

Support: 1.0800, 1.0650, 1.0500

Resistance: 1.0900, 1.1000, 1.1120, 1.1185, 1.1300, 1.1360

GBP/USD

GBP/USD managed to penetrate above 1.2800 but the pair failed to close above this resistance point. The pair now looks weakened so that consolidation within the 1.2625 – 1.2800 area will continue. Still the same as before, as long as there is no closure outside the area, traders will continue to assume that sideways movement or consolidation will continue.

Today’s critical levels to watch:

Support: 1.2625, 1.2200, 1.2100, 1.2000

Resistance: 1.2800, 1.3000

USD/JPY

USD/JPY was pushed down yesterday but finally closed not far from its opening point. The pair still has not experienced a change in the bullish situation and has the opportunity to continue rising. If the pair moves up and forms a higher swing high point then the bullish trend will continue. As long as the pair is still above the daily SMA 200 and forming a higher swing low point, there is no indication of a change in trend direction.

Today’s critical levels to watch:

Support: 150.00, 147.00, 145.00, 142.00, 141.00

Resistance: 155.00

AUD/USD

AUD/USD jumped up but has not managed to close above 0.6700. The pair experienced bearish pressure today and was seen erasing some of yesterday’s gains. There is no confirmation yet regarding the direction of the pair’s next movement. The pair could continue weakening towards the daily SMA 200 or rise again to test the 0.6700 point.

Today’s critical levels to watch:

Support: 0.6500, 0.6350, 0.6170, 0.6000

Resistance: 0.6700, 0.6750, 0.6820, 0.7000