USDX (USD Index)
The U.S. dollar index is still on a weakening path towards 103.85. Currently, the decline appears to have stopped temporarily and the index is waiting for momentum to continue weakening. Still the same as before, traders will wait near the daily SMA 200 and 103.85 for a bullish reaction and a temporary increase in the U.S. dollar index.
EUR/USD
EUR/USD bounced from 1.0650 points and will try to continue its increase towards the daily SMA 200 point. The pair will turn more bullish when it can close above the daily SMA 200. However, if the pair reverses sharply and manages to form a lower swing low then there will be no change in the long-term bearish trend yet.
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 has reached 1.2200 and is testing it. The pair is seen bouncing from that point and will try to move towards the daily SMA 200 point. As written previously, closing above the daily SMA 200 will confirm the continuation of the bullish trend. However, if the pair is moving down and forms a lower swing low point then the bearish trend will continue.
Today’s critical levels to watch:
Support: 1.2200, 1.2100, 1.2000
Resistance: 1.2625, 1.2800
USD/JPY
USD/JPY continues its rise slowly and forms a higher high again. There has been no change in the bullish situation of the pair so traders will continue to avoid short positions. When the pair forms a lower swing high point followed by a lower swing low, the direction of the trend movement will change to bearish.
Today’s critical levels to watch:
Support: 147.00, 145.00, 141.00
Resistance: 150.00
AUD/USD
AUD/USD reached 0.6350 and is currently seeing a bullish reaction. However, the pair still has not confirmed a change in direction of the trend. If the pair continue moving down and forms a lower swing low point then the direction of the trend will still be bearish. An increase and close above 0.6500 as well as the daily SMA 200 will be a strong bullish confirmation.
Today’s critical levels to watch:
Support: 0.6350, 0.6170, 0.6000
Resistance: 0.6500, 0.6700, 0.6750, 0.6820, 0.7000