USDX (USD Index)
The U.S. dollar index looks like it will move down towards the daily SMA 200 point but it can still be said that the index is in a bullish trend. No lower swing high or lower swing low points have yet been formed. If the index can bounce up and form a higher swing high point then the bullish trend will continue. Meanwhile, if there is a decline below the daily SMA 200 and a lower swing low is formed then the bearish trend will begin.
EUR/USD
EUR/USD sticks near the daily SMA 200 point and also 1.0800. The pair is still consolidating near these two points and waiting for further reaction. If the pair bounces down with strong bearish momentum and forms a lower swing low point then the bearish trend will continue. Meanwhile, if the pair breaks above the daily SMA 200 with strong bullish momentum and forms a higher swing high point then there is a chance that the trend can change to bullish in the medium term.
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 is stuck near the daily SMA 200 and 1.2625. The pair is having difficulty continuing its bullish movement and now there is a chance of a bearish reaction near the daily SMA 200. If the pair continues to weaken below the daily SMA 200 and forms a lower swing low point then there will be no change in the bearish trend. Meanwhile, if the pair manages to rise above the daily SMA 200 and 1.2625 then there is a chance that the trend direction can change to bullish in the medium term.
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 rise after the bounce from 151.80. Even though it is moving up, it seems the market is still hesitant to push prices up quickly due to possible intervention from the BOJ. Hawkish comments are starting to emerge from the BOJ which allows for a change in direction in the Yen. If the price starts to move down again without creating a higher swing high point then there is a chance that the trend direction can change when it closes below the daily SMA 200.
Today’s critical levels to watch:
Support: 150.00, 147.00, 145.00, 142.00, 141.00
Resistance: 155.00
AUD/USD
AUD/USD is moving sideways currently after rising above the daily SMA 200. The pair is still waiting for the formation of a higher swing high point to confirm the continuation of the bullish movement. However, if there is a decline and also closes below the daily SMA 200 then there is a chance that the trend direction can become bearish again. For the time being, traders will still wait for further developments.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000