USDX (USD Index)
The U.S. dollar index reversed the direction by moving upward today, which means, the decline towards the point 100.00 is currently being delayed. There is a chance for an increase to reach 103.50 or the trendline. Traders will be waiting for a bearish reaction at the resistance point for opportunities to enter short positions in U.S. dollar. The downside target is at 100.00 for this year and as long as the index continues to form lower swing highs and lower swing lows then the bearish trend can continue.
EUR/USD
EUR/USD experienced a rejection from the 1.1000 level and the pair continued its decline today. The bearish movement of the pair is likely to test the 1.0800 point where traders can prepare for a chance to enter long positions. Closing above 1.1000 and a higher swing high point will open opportunities for an increase towards 1.1120 and 1.1185.
Today’s critical levels to watch:
Support: 1.0800, 1.0650, 1.0339
Resistance: 1.0900, 1.1000
GBP/USD
GBP/USD was rejected from 1.2800 and looks to start a bearish move. The pair might target the 1.2625 level where traders will be waiting for a bullish reaction. When there is a bullish reaction, traders can enter long positions. The next target for gains above 1.2800 is 1.3000. The thing that can cancel the pair’s bullish situation is a drop below the daily SMA.
Today’s critical levels to watch:
Support: 1.2625, 1.2200, 1.2100
Resistance: 1.2800
USD/JPY
USD/JPY is slowly moving up and is heading for 145.00 and 147.00. The pair will continue to be in a bullish situation for now and any decline that occurs in the pair will be an opportunity for traders to enter long positions at a lower support point. On the lower side, 141.00 is the nearest level to watch as a support level.
Today’s critical levels to watch:
Support: 141.00, 140.00, 139.30, 137.70, 133.00
Resistance: 145.00, 147.00
AUD/USD
AUD/USD has made a bearish correction and reached 0.6700 and a daily SMA 200. Currently, the pair is under bearish pressure with strong momentum. Traders can enter long positions near the current point or wait for a bullish reaction to occur. When a bullish reaction occurs, the pair will form a higher swing low point and continue its bullish movement.
Today’s critical levels to watch:
Support: 0.6700, 0.6500, 0.6000
Resistance: 0.6750, 0.6820, 0.7000