USDX (USD Index)
The U.S. dollar index appears to be weakening in today’s trading but currently, the index appears to be trading near Friday’s low. There is still no strong confirmation that the direction of movement of the index will change to bearish. For now, traders will continue to maintain the bullish scenario and wait for a bearish correction in the index. As long as there is no breakout below the daily 200 SMA point and a lower swing low point is formed, the index will continue to rise.
EUR/USD
EUR/USD made a bullish reversal again and did not reach 1.0650. The pair has the opportunity to move up and test the daily SMA 200 and 1.0800 points. For now, traders will continue to observe the pair’s movement between 1.0650 – 1.0800. As long as the pair does not move down and forms a lower swing low point, there is still a chance for a bullish reversal.
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 has reached 1.2625 and there is a bullish reaction in today’s trading. If there is no change in the situation then the pair will try to move up towards 1.2800. Consolidation between 1.2625 – 1.2800 will take place and traders will observe the reaction of the pair in this area. In the long term, it is estimated that the pair can continue the bullish movement. However, if there is a weakness toward the daily SMA 200 point, traders can use this opportunity to add to long positions.
Today’s critical levels to watch:
Support: 1.2625, 1.2200, 1.2100, 1.2000
Resistance: 1.2800, 1.3000
USD/JPY
USD/JPY continued strengthening and might test the previously formed swing high point. If the pair manages to form a higher swing high point then the bullish trend will continue. However, if a bearish reversal occurs and the pair manages to form a lower swing low point, the situation of the pair can change to bearish.
Today’s critical levels to watch:
Support: 150.00, 147.00, 145.00, 142.00, 141.00
Resistance: 155.00
AUD/USD
AUD/USD has not yet formed a higher swing high or lower swing low. The movement of the pair is still flat for now, not far from the 0.6700 point. Consolidation of the pair is still ongoing between 0.6500 – 0.6700 and traders will wait for a breakout from the area. A close above 0.6700 would be a strong bullish confirmation.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000