USDX (USD Index)

The U.S. dollar index bounced up but today bearish pressure hit the index again. It seems that the situation is still balanced for bulls and bears, and traders will continue to wait for further reactions. As previously written, the bullish trend can continue when the index moves up and forms a higher swing high point. Conversely, when there is a decline below the daily SMA 200 point and the trendline then the situation can turn bearish.

EUR/USD

EUR/USD bounced up from the 1.0800 point and the daily SMA 200 today. The pair erased most of yesterday’s losses and will try to resume its rise. The upside targets are still at 1.0900 and 1.1000 after that. Traders will maintain a bullish position now with a stopping point below the nearest swing low point.

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 reversed direction before the pair reached 1.2625 and will try to move up to test 1.2800 again. As previously written, the bullish trend can continue when the pair manages to close above 1.2800 and forms a higher swing high point. The range of movement is still between 1.2625 and 1.2800, so as long as there is no closure outside this area, traders will assume that the consolidation will continue.

Today’s critical levels to watch:

Support: 1.2625, 1.2200, 1.2100, 1.2000

Resistance: 1.2800, 1.3000

USD/JPY

USD/JPY moved bearish today and fell below yesterday’s low. Although this bearishness is still only a temporary reaction, further confirmation is needed for a decline. If the pair weakens further, the daily SMA 200 point will become an important support point. When the pair forms a close below the daily SMA 200 point, the situation can change from bullish to bearish in the medium-long term.

Today’s critical levels to watch:

Support: 150.00, 147.00, 145.00, 142.00, 141.00

Resistance: 155.00

AUD/USD

AUD/USD reversed upwards today without forming a lower swing low point. The pair’s bullish movement still has the opportunity to continue to test the 0.6700 point. Currently, the pair has formed a higher swing high point in the previous bullish attempt, so the bullish trend has a greater chance of continuing. If a decline occurs, the daily SMA 200 point will be a support point that needs attention.

Today’s critical levels to watch:

Support: 0.6500, 0.6350, 0.6170, 0.6000

Resistance: 0.6700, 0.6750, 0.6820, 0.7000