USDX (USD Index)
The U.S. dollar index has moved up in recent days and seems to be trying to erase the decline that occurred at the end of last week. However, the direction of movement of the index is still bearish with points 103.85 and daily SMA 200 as downside targets. For now, traders can wait for the index to continue its decline and reach these two support points to determine the direction of the next movement.
EUR/USD
EUR/USD shows bounce reactions from the 1.0650 support level and might resume the upward movement to target the daily SMA 200. Traders could wait near the daily SMA 200 for reactions. If the pair form major bearish reactions then traders will assume another bearish attempt to print a higher low. A close above the daily SMA 200 will confirm the continuation of the bullish trend.
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 fell and almost erased all the gains made at the end of last week. As previously estimated the pair will test the 1.2000 – 1.2200 area. If the pair can maintain the position and bounce up then there is a chance of retesting the daily SMA 200 point. Closing above the daily SMA 200 is confirmation of long-term bullish trend for the pair.
Today’s critical levels to watch:
Support: 1.2200, 1.2100, 1.2000
Resistance: 1.2625, 1.2800
USD/JPY
USD/JPY moved up above 150.00 and has now reached the swing high point formed previously. The bullish trend of the pair has not changed. As long as there is no lower swing high or lower swing low, the bullish trend will continue. If the pair can fall below 150.00 and form a lower swing low then the bearish trend can continue.
Today’s critical levels to watch:
Support: 147.00, 145.00, 141.00
Resistance: 150.00
AUD/USD
AUD/USD fell and reached the point of 0.6350. Currently, the pair has formed a higher swing high point in the previous upward movement. If the pair can form a higher swing low point then the direction of the pair’s movement can continue to be bullish. Meanwhile, if the pair continues to weaken and forms a lower swing low point then the bearish trend can continue.
Today’s critical levels to watch:
Support: 0.6350, 0.6170, 0.6000
Resistance: 0.6500, 0.6700, 0.6750, 0.6820, 0.7000