USDX (USD Index)

The strengthening of the U.S. dollar index occurred again after the release of FOMC minutes of the meeting showing the Fed doubts about continuing its interest rate hike policy. The next interest rate decision will be determined by observing other economic data releases. This situation can be said to suggest that the U.S. dollar index might continue its weakness. However, market participants are again focusing on debt-ceilings negotiations for the short term. After this issue is resolved, most likely the U.S. dollar index can continue its weakening.

EUR/USD

EUR/USD looks to weaken and managed to print a lower low. This is a confirmation bearish continuation toward the next support level at 1.0650. Even though it is bearish, as written in the previous analyses, this downward movement is an opportunity for traders to enter long positions. When the bearish pressure subsides and there is a bullish reaction at the support point, traders can enter long positions.

Today’s critical levels to watch:

Support: 1.0800, 1.0650, 1.0339

Resistance: 1.0900, 1.1000

GBP/USD

GBP/USD is ready to continue the bearish movement towards the 1.2000 – 1.2200 area and also the daily SMA 200. There is no change in this bearish situation and traders will wait near the support levels for opportunities to enter long positions. As long as there is no close below the daily SMA 200, there is a high chance of a bullish reaction and continuation of the bullish trend.

Today’s critical levels to watch:

Support: 1.2200, 1.2100, 1.2000, 1.1450

Resistance: 1.2625, 1.2800

USD/JPY

USD/JPY increased above the 139.30 level and is ready to continue its bullish trend. If the pair can maintain its position above 137.70 or daily SMA 200 until the end of the week then there are opportunities for further increases next week. However, if the pair drops and closes below its daily SMA 200 by the end of the week then there is a chance of a bearish reversal.

Today’s critical levels to watch:

Support: 133.00, 130.00, 125.00

Resistance: 137.70

AUD/USD

AUD/USD pushed down and opened a downside path towards 0.6500. The pair will now continue the bearish movement and traders will wait for a bullish reaction at the support point. In the medium-long term, it can be said that the chance for the pair to turn bullish is quite small for now. Traders will wait for the formation of higher swing highs and higher swing lows to confirm a reversal.

Today’s critical levels to watch:

Support: 0.6500, 0.6000

Resistance: 0.6700, 0.6750, 0.6820, 0.7000