USDX (USD Index)

Strengthening occurred again in the U.S. dollar index so a higher high point was formed today. The bullish trend will continue so traders should not rush to enter short positions on the U.S. dollar. However, if the index forms a higher swing high point, there may be no bearish scenario for several months/years. For now, traders will still wait for a bearish correction in the index for long-position opportunities.

EUR/USD

EUR/USD pushed down and immediately tested last week’s low. If the pair continues its weakening then the point 1.0650 is a downside target that can be watched. A break below this point and the formation of a lower swing low will confirm the continuation of the long-term bearish trend. Meanwhile, an increase and close above the daily SMA 200 will open up opportunities for a long-term trend reversal to bullish.

Today’s critical levels to watch:

Support: 1.0650, 1.0500

Resistance: 1.0800, 1.0900, 1.1000, 1.1120, 1.1185, 1.1300, 1.1360

GBP/USD

GBP/USD experienced a bounce from 1.2625 and has the opportunity to continue rising towards 1.2800. However, the pair seems to be experiencing selling pressure at the moment and is likely to test the 1.2625 point again. If there is a decline then as long as there is no close below the daily SMA 200, the pair still has the opportunity to turn bullish. Meanwhile, as long as there is no closure outside the 1.2625 – 1.2800 area, pair consolidation within this area will still take place.

Today’s critical levels to watch:

Support: 1.2625, 1.2200, 1.2100, 1.2000

Resistance: 1.2800, 1.3000

USD/JPY

USD/JPY continues its rise and forms a higher swing high point. The pair’s bullish trend will continue and there is no indication of a change in direction. Still the same as before, if a bearish correction occurs in the pair then it is an opportunity for traders to enter a long position near the support point.

Today’s critical levels to watch:

Support: 150.00, 147.00, 145.00, 142.00, 141.00

Resistance: 155.00

AUD/USD

AUD/USD tried to move up in today’s trading and briefly reached a point near 0.6700. The pair reversed direction before reaching that point and now the pair is in the range of yesterday’s movement. It seems that the consolidation of the pair will continue and traders will be waiting for further developments. If there is a decline then the daily SMA 200 and 0.6500 are the targets for decline.

Today’s critical levels to watch:

Support: 0.6500, 0.6350, 0.6170, 0.6000

Resistance: 0.6700, 0.6750, 0.6820, 0.7000