USDX (USD Index)
The rise in the U.S. dollar index is underway now but is unlikely to last long. When the index continues its decline, the daily SMA 200 and 103.85 are the targets for decline. Traders will wait near these two support points for a reaction. If a bounce occurs then the index is likely to strengthen temporarily before falling further. The development of the global situation also needs to be monitored, especially the war situation in Palestine. If the war situation worsens and spreads, the decline in the U.S. dollar index will be delayed.
EUR/USD
EUR/USD moved up from 1.0650 despite experiencing bearish pressure. The pair will try to make an upward movement towards the daily SMA 200 and 1.0800. Traders can wait for a reaction near these two resistance points. A temporary bearish reaction is possible before the pair can break out and close above that point. A close above both resistance points will provide bullish confirmation.
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 is moving bearishly and looking for a support point to bounce up. The decline in the pair seems to be gradually losing momentum and there is an opportunity for an increase to test the daily SMA 200. A close above the daily SMA 200 will be a confirmation of a long-term bullish trend in the pair. For now, traders can use the 1.2000 – 1.2200 area as a place to add long positions when testing occurs.
Today’s critical levels to watch:
Support: 1.2100, 1.2000
Resistance: 1.2200, 1.2625, 1.2800
USD/JPY
USD/JPY is trying to continue its bullish movement above 150.00. The pair experienced an increase although not with strong momentum. Still the same as the previous analysis, when the pair can fall below 150.00 and form a lower swing low point, that’s when the trend can change to bearish.
Today’s critical levels to watch:
Support: 147.00, 145.00, 141.00
Resistance: 150.00
AUD/USD
AUD/USD bounced down from 0.6500 and is now trying to reverse the ongoing bearish pressure. The pair has a chance to continue its bullish trend if there is a close above 1.06500. If it turns out that the pair is still going down and forming a lower swing low point then the bearish trend will continue.
Today’s critical levels to watch:
Support: 0.6170, 0.6000
Resistance: 0.6500, 0.6700, 0.6750, 0.6820, 0.7000