USDX (USD Index)
After the Fed’s announcement yesterday, the U.S. dollar index finally showed weakness and now there is a possibility of further decline towards 103.85. An increase in interest rates is unlikely to occur in the future. Currently, market players will wait for a decrease in interest rates for a long-term reversal in the direction of the dollar index.
EUR/USD
EUR/USD increased and soon will reach 1.0650 again. Testing at the resistance point will take place and this time there is a big chance of a breakout and closing above it. As long as there is no close above it, consolidation of the pair will take place between 1.0500 – 1.0650. Traders will wait while accumulating long positions when a decline occurs.
Today’s critical levels to watch:
Support: 1.0500
Resistance: 1.0650, 1.0800, 1.0900, 1.1000, 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD moved up from 1.2100 and is now near 1.2200. The pair will try to move up and make a close above 1.2200 to continue its bullish movement. As long as there is no close above it, the pair is still in the range of 1.2000 – 1.2200 and has the opportunity to continue consolidation.
Today’s critical levels to watch:
Support: 1.2100, 1.2000
Resistance: 1.2200, 1.2625, 1.2800
USD/JPY
USD/JPY moved down after experiencing an increase above 150.00 this week. As written in the previous analysis, if the pair moves down and closes below 150.00 with strong bearish momentum then the direction of movement can change to bearish. The decline may continue with the points 147.00 and 145.00 as downside targets.
Today’s critical levels to watch:
Support: 147.00, 145.00, 141.00
Resistance: 150.00
AUD/USD
AUD/USD took off towards 0.6500 and soon reached it. If the pair can continue strengthening and close above 0.6500 then the bullish trend will continue. Meanwhile, a bounce from 0.6500 without the formation of a higher swing high point is a bearish indication.
Today’s critical levels to watch:
Support: 0.6170, 0.6000
Resistance: 0.6500, 0.6700, 0.6750, 0.6820, 0.7000