USDX (USD Index)

A bearish rejection occurred on the dollar index near the daily SMA 200. A decline also occurred today but the index recovered and is now trading near the daily SMA 200 and 103.50. The movement of the index is expected to be sideway after the Fed’s announcement yesterday. However, if it turns out that the index manages to rise above the daily SMA 200 again and closes above the trendline, then the bullish situation will continue.

EUR/USD

EUR/USD has generally managed to bounce off the daily SMA 200 point and is now trying to continue its rise towards 1.1000. However, bearish pressure has hit the pair again and the pair’s position is currently stuck near 1.0900. If the pair turns down and closes below the daily SMA 200 then the situation can become bearish again. An increase and the formation of a higher swing high point above 1.1000 will confirm the continuation of the bullish movement.

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 still limited within the 1.2625 – 1.2800 area even though it continues to be under bullish pressure. Bearish rejection occurred near 1.2800 so the range was successfully maintained. Will the pair continue its downward movement towards 1.2625 to test it? For now, traders will still assume the pair continues moving in the range of 1.2625 – 1.2800 and wait for a close outside that area.

Today’s critical levels to watch:

Support: 1.2625, 1.2200, 1.2100, 1.2000

Resistance: 1.2800, 1.3000

USD/JPY

USD/JPY rose above 150.00 and formed a higher swing high. The situation of the pair is bullish and the continuation of the bullish movement is something that is currently taking place. However, this increase also occurred after the BOJ decided to abandon its negative interest rate policy. If it turns out that the Yen strengthens then the pair could reverse downwards.

Today’s critical levels to watch:

Support: 147.00, 145.00, 142.00, 141.00

Resistance: 150.00

AUD/USD

AUD/USD surged above the daily SMA 200 point and made a close above it yesterday. Today there is a continuation of the bullish movement in the pair. However, the pair seems to have lost its bullish momentum and is almost moving back down to the opening point. If the pair can continue its increase and form a higher swing high point then the bullish trend will be confirmed. Conversely, if the pair moves down and closes below 0.6500 then the bearish situation may resume.

Today’s critical levels to watch:

Support: 0.6500, 0.6350, 0.6170, 0.6000

Resistance: 0.6700, 0.6750, 0.6820, 0.7000