USDX (USD Index)
The U.S. dollar index continues its flat movement not far from the daily SMA 200 point and there is no significant movement at this time. The Fed’s Jerome Powell will give testimony in the next 2 days and there will also be the release of US employment data on Friday. It is estimated that index movements will be quite volatile until the end of this week. Traders will wait for a further reaction from the index near the daily SMA 200 for now.
EUR/USD
EUR/USD continues its rise towards 1.0900 after holding above the daily SMA 200. An increase and closing above 1.0900 will open the way for an increase towards 1.1000. The pair is still in a bullish situation but there is a possibility that the movement will be quite volatile in the remainder of this week. Traders will wait for further reaction from the pair near the daily SMA 200 point.
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 continues to rise above 1.2625 towards 1.2800. The pair is expected to consolidate between 1.2625 and 1.2800 with a bullish tendency. If the pair makes a bearish movement to the support point then traders can continue to use this opportunity to enter a long position. A close above 1.2800 will confirm the continuation of the bullish trend. Meanwhile, a close below the daily SMA 200 is a bearish confirmation.
Today’s critical levels to watch:
Support: 1.2625, 1.2200, 1.2100, 1.2000
Resistance: 1.2800, 1.3000
USD/JPY
USD/JPY still continues its consolidation near 150.00. Currently, the pair appears to be experiencing bearish pressure but is remaining within the weekly range. As previously written, when the pair can move up and form a higher swing high point, the bullish trend can continue. Meanwhile, a decline and close below the daily SMA 200 point will be a bearish confirmation.
Today’s critical levels to watch:
Support: 147.00, 145.00, 142.00, 141.00
Resistance: 150.00
AUD/USD
AUD/USD held above the 0.6500 level and bounced from it today. The pair is still moving between 0.6500 and the daily SMA 200 for the time being. When the pair can make a close above the daily SMA 200 point then the situation can become more bullish. Meanwhile, a decline below 0.6500 and the formation of a lower swing low would be a strong bearish 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