USDX (USD Index)
The U.S. dollar index continues to weaken after the release of US employment data. Today. The lower-than-expected figure provides confirmation that the Fed will be more careful in setting interest rate policy. With the current decline, the U.S. dollar index is expected to continue to weaken with 103.85 as the decline target. Long term, a close below the daily SMA 200 would be a stronger bearish confirmation.
EUR/USD
EUR/USD breakout above the 1.0650 points and is now heading towards the daily SMA 200 point. The bullish movement of the pair will still continue for now and traders will wait near the daily SMA 200 point. If the pair can close above the daily SMA 200 point and make a close above it then the bullish movement can continue. 1.0650 will become a support point if the pair starts a bearish movement.
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 slid up towards the daily SMA 200 point. The pair has finally left the 1.2000 – 1.2200 area where the bullish movement is currently taking place strongly. A close above the daily SMA 200 would be a strong confirmation of the continuation of the bullish trend in the pair. Meanwhile, a bearish rejection from the daily SMA 200 could bring the pair back lower towards the 1.2000 – 1.2200 area.
Today’s critical levels to watch:
Support: 1.2100, 1.2000
Resistance: 1.2200, 1.2625, 1.2800
USD/JPY
USD/JPY fell back below 150.00 at this time. There is a chance that the pair will fail to close above 150.00 on a weekly basis and then start a bearish movement. The points 147.00 and 145.00 will be targets for decline as well as support points where a bounce is likely to occur.
Today’s critical levels to watch:
Support: 147.00, 145.00, 141.00
Resistance: 150.00
AUD/USD
AUD/USD has reached 0.6500 now and the pair will continue to test this resistance point. As written previously, a close above 0.6500 will provide bullish reversal confirmation in the pair. If the pair turns down sharply then the 0.6350 point will be a support point that traders will focus on.
Today’s critical levels to watch:
Support: 0.6170, 0.6000
Resistance: 0.6500, 0.6700, 0.6750, 0.6820, 0.7000