USDX (USD Index)
There was not much change in the U.S. dollar index after yesterday’s bearish close. The movement of the index is currently still flat and there are no major news releases that will move the market except unemployment claims data. If the index continues to strengthen and forms a higher high above last week’s high point, the bullish trend will continue. A close below the daily SMA 200 point will invalidate the bullish situation.
EUR/USD
EUR/USD is on a strengthening path towards the 1.0800 point and the daily SMA 200. The pair will try to continue its increase and test these points. If there is a strong bearish reaction after the test, the bearish trend may resume. The target for weakening is currently still at 1.0650. A close below 1.0650 and also the formation of a lower swing low point would be a strong bearish confirmation.
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 is slowly moving up within the 1.2625 – 1.2800 area. The pair’s movement is still flat in this area and traders will again wait for a close outside the area. When there is a closing outside the area, traders will get a confirmation of the direction of the next movement. As long as there is no such closure, traders can continue the range trading strategy.
Today’s critical levels to watch:
Support: 1.2625, 1.2200, 1.2100, 1.2000
Resistance: 1.2800, 1.3000
USD/JPY
USD/JPY is continuing its increase, although slowly. The pair still has not formed a higher swing high point so there is no confirmation of the continuation of the bullish trend. Meanwhile, if the pair reverses down and then forms a lower swing low then a bearish trend can begin. For now, traders will still observe the pair’s movements and wait for a higher swing high or lower swing low to form.
Today’s critical levels to watch:
Support: 150.00, 147.00, 145.00, 142.00, 141.00
Resistance: 155.00
AUD/USD
AUD/USD continued its bullish closing in yesterday’s trading and will now try to continue strengthening towards 0.6700. If the pair can make a close above 0.6700 then the bullish trend can continue. Meanwhile, a bearish reaction could open up opportunities for a decline towards the daily SMA 200 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