USDX (USD Index)

The strengthening of the dollar index has reached the first target at 103.50. The index seems to have a bearish reaction at the resistance point and is currently being pushed down. Even so, the index position is still within yesterday’s range of movement. If the index continues the upward movement then daily SMA 200 will be the next bullish target. In the long term, U.S dollar index is expected to continue the bearish movement with 100.00 as a downside target.

EUR/USD

EUR/USD reached the 1.0800 level and today was pushed further lower. However, the bearish pressure seems easing and the pair is now rising above its opening point. If the pair manages to bounce up from the current point then the upward movement can continue towards 1.0900 and 1.1000. Conversely, if the pair is still continuing its bearish movement then the 1.0650 level will be the next support level to watch.

Today’s critical levels to watch:

Support: 1.0800, 1.0650, 1.0339

Resistance: 1.0900, 1.1000

GBP/USD

GBP/USD has had a bullish run today and is trying to erase yesterday’s losses. Despite the situation, there is no confirmation to enter a position yet. If the pair continues the downward movement, the area 1.2000 – 1.2200 and the daily SMA 200 is where traders can enter long positions. Conversely, if the pair immediately moves up, 1.2625 and 1.2800 levels are the resistances to watch.

Today’s critical levels to watch:

Support: 1.2200, 1.2100, 1.2000, 1.1450

Resistance: 1.2625, 1.2800

USD/JPY

USD/JPY has closed above the daily SMA 200 and there has been a continuation of the bullish run in yesterday’s trading. The pair has formed a higher swing high and has the opportunity to continue its bullish movement. However, currently, the pair is weakening and possibly will make a bearish close near the daily SMA 200. Even though it is bullish, traders will still observe the pair’s movement near the 200 SMA.

Today’s critical levels to watch:

Support: 133.00, 130.00, 125.00

Resistance: 137.70

AUD/USD

AUD/USD briefly resumed its decline but no lower swing low formed. Currently, the pair looks moving up and will try to reverse the direction of the trend. At the top, 0.6700 and the daily SMA 200 are important resistance points that need to be broken to continue the bullish movement. At the bottom, as long as there is no lower swing low formed then there is still a chance for the pair to turn bullish.

Today’s critical levels to watch:

Support: 0.6500, 0.6000

Resistance: 0.6700, 0.6750, 0.6820, 0.7000