USDX (USD Index)
The U.S. dollar index fell sharply at the end of last week, which is confirmation of a change in trend direction for the medium-long term. The index still has the potential to weaken with point 103.85 as the decline target. The daily SMA 200 point will be the focus of traders for bearish testing. If the index can bounce up then there will be a change in short-term trend. If the Fed decides to lower interest rates next year, the U.S. dollar index will continue to weaken
EUR/USD
EUR/USD continues strengthening towards the daily SMA 200 point and also 1.0800. Currently, the trend direction has changed for the medium term and the test of the daily SMA 200 may only last temporarily before further increases. If the pair experiences bearish rejection and moves down then the 1.0650 point is the support point that traders need to pay attention to for a bullish reaction.
Today’s critical levels to watch:
Support: 1.0650, 1.0500
Resistance: 1.0800, 1.0900, 1.1000, 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD rose sharply at the end of last week and closed not far from the daily SMA 200. The pair continued its strengthening today and is above the daily SMA 200. If the pair can maintain its bullish pressure and add to the increase then the bullish movement can continue towards 1.2625.
Today’s critical levels to watch:
Support: 1.2100, 1.2000
Resistance: 1.2200, 1.2625, 1.2800
USD/JPY
USD/JPY closed below 150.00 at the end of last week, resulting in the failure to continue the bullish movement above that point. The pair is at risk of further decline towards 147.00 and 145.00. Traders will wait for a lower swing low to confirm a long-term bearish reversal. Short positions can be considered near 150.00 with a stop order above the previous swing high.
Today’s critical levels to watch:
Support: 147.00, 145.00, 141.00
Resistance: 150.00
AUD/USD
AUD/USD rose and closed above 0.6500 at the end of last week so the situation turned bullish. The pair will try to continue its strengthening towards the daily SMA 200 point. If the pair experiences weakness then the 0.6500 point is expected to be the point where the next higher swing low point will be formed.
Today’s critical levels to watch:
Support: 0.6500, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000