USDX (USD Index)
A bullish close above the trendline occurred on the U.S. dollar index so currently the situation is bullish. However, there has been no continuation of the upward movement and the index seems to be sticking to the trendline. If a bearish reversal occurs and the index falls with strong bearish momentum then the consolidation inside the triangle will continue. Currently, there is no confirmation and traders will wait for further developments.
EUR/USD
EUR/USD fell and closed below the trendline and also the daily SMA 200 point. The situation of the pair could become more bearish if there is a continuation of the decline below last week’s low. If the pair can reverse the bearish pressure and move up above the daily SMA 200 and the trendline then the consolidation inside the triangle pattern can continue. For the time being, traders will observe the development of the pair’s movement near the daily SMA 200.
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 fell and entered the buy area between the daily SMA 200 and 1.2625. This is an opportunity for traders to add to long positions with a stop order below the previous swing low point. However, if the bearish pressure is still ongoing and there is a significant close below the daily SMA 200 then the bearish movement can still continue. If the pair can stay above the daily SMA 200 and re-enter the 1.2625 – 1.2800 area then the next movement tendency is bullish.
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 maintains its position after the BOJ announcement. The increase in the pair is a little hampered at the moment where no higher high point formed yet. The situation is still bullish so traders should avoid short positions and continue to observe the reaction of pairs near the high point. As long as there is no bearish reversal, traders should continue to assume that the pair will continue its increase.
Today’s critical levels to watch:
Support: 147.00, 145.00, 142.00, 141.00
Resistance: 150.00
AUD/USD
AUD/USD fell below the daily SMA 200 and reached the trendline in last week’s trading. The situation of the pair can be said to be bearish but currently, it can stay above the trendline. If the pair can bounce up and close again above the daily SMA 200 point then the situation can turn bullish again. However, if there is a break below the trendline and then a lower swing low point is formed, the pair will continue to weaken.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000