USDX (USD Index)
The U.S. dollar index movement appeared to be weakening for several days but the bearish pressure seems to have subsided. It can be seen that the index has increased for several days in a row and will try to continue its upward movement. If the bulls succeed in forming a higher swing high point then the bullish trend will continue.
EUR/USD
EUR/USD experienced a bearish reaction near the daily SMA 200 point and has not managed to make a close above it. The pair is now moving down but not with a strong bearish momentum. The pair’s movement will likely still be sideways not far from the daily SMA 200 point. Traders will now wait for further reactions from the daily SMA 200 point to confirm the direction of the next movement.
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 bearish reaction from the daily SMA 200 point and has the opportunity to continue its bearish movement. The pair will try to move down to form a lower swing low point. In the current situation, traders who have entered short positions near the daily SMA 200 will maintain these positions. As long as the pair continues to form a lower swing high and lower swing low, a short position is still recommended.
Today’s critical levels to watch:
Support: 1.2200, 1.2100, 1.2000
Resistance: 1.2625, 1.2800, 1.3000
USD/JPY
USD/JPY continues its strengthening after the bounce from 151.80. The pair is gaining upward momentum and will try to form a higher swing high. As long as the pair can continue to form higher swing high and higher swing low points, the bullish trend will continue. Meanwhile, a decline and close below the daily SMA 200 point will confirm a bearish turnaround.
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 succeeded in forming a higher swing high point and now the pair appears to be experiencing bearish pressure. The decline is in progress and will target the daily SMA 200 point. If the pair can still move up and form a higher swing high point then it will confirm the continuation of the bullish trend. Meanwhile, a decline below the daily SMA 200 and the formation of a lower swing low will confirm the continuation of the bearish trend.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000