USDX (USD Index)

The U.S. dollar index is again experiencing bearish pressure and now the index is near the daily SMA 200 and trendline support. The bearish trend will continue if the index breaks below these two points. For now, traders will wait for further confirmation near these two support points. The situation is still sideways as long as there is no strong bullish bounce or break below that point.

EUR/USD

EUR/USD is moving up towards 1.0900 and is expected to reach that point shortly. Traders will wait for the reaction of the pair near that point. If the pair experiences bearish rejection and moves down then the daily SMA 200 point is still a support point that can be considered. Meanwhile, a close above 1.0900 followed by the formation of a higher swing high point will confirm the continuation of the bullish trend.

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 rose and reached the upward target point of 1.2800 today. The pair is in a bullish situation and a close above 1.2800 and the formation of a higher swing high point will be confirmation of the continuation of the bullish trend. Even though the situation looks bullish, traders will still wait for further confirmation because the pair is still in a consolidation phase between 1.2625 and 1.2800.

Today’s critical levels to watch:

Support: 1.2625, 1.2200, 1.2100, 1.2000

Resistance: 1.2800, 1.3000

USD/JPY

USD/JPY is starting to move flat after its slow rise. The pair will likely start consolidation and wait for the next big momentum move. The long-term trend is still bullish but as long as no higher swing high point formed, the pair is at risk of a bearish reversal. If a downward movement starts and the pair manages to close below the daily SMA 200 then the direction of the trend will change.

Today’s critical levels to watch:

Support: 150.00, 147.00, 145.00, 142.00, 141.00

Resistance: 155.00

AUD/USD

AUD/USD continues its increase without downward movement towards the daily SMA 200 point. The pair will try to move up and test the 0.6700 point again and traders will observe the reaction of the pair. If the pair manages to move up and forms a higher swing high point then the bullish movement can continue. For now, because the pair has succeeded in forming a higher swing high and swing low, the trend is bullish.

Today’s critical levels to watch:

Support: 0.6500, 0.6350, 0.6170, 0.6000

Resistance: 0.6700, 0.6750, 0.6820, 0.7000