USDX (USD Index)
The U.S. dollar index fell sharply and in the near future will reach the daily SMA 200 and 103.85. The current bearish movement has the opportunity to continue in the long term because it is supported by U.S. inflation figures which have fallen more than expected. Market players assume that there will be no further interest rate increases by the Fed as long as the inflation rate continues to move down. If the Fed turns out to cut interest rates then the U.S. dollar index could fall even further.
EUR/USD
EUR/USD rose and closed above the daily SMA 200 point so the situation has turned bullish again. If the pair makes a bearish correction then the daily SMA 200 point can be a place where traders consider long positions. When a bounce occurs, traders can enter a long position.
Today’s critical levels to watch:
Support: 1.0800, 1.0650, 1.0500
Resistance: 1.0900, 1.1000, 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD rose and closed above the daily SMA 200 and formed a higher swing high point. The position of the pair has become bullish and traders will take advantage of the decline that occurs as an opportunity to enter a long position. Currently, the daily SMA 200 point can be a support point that traders use as a place to enter long positions.
Today’s critical levels to watch:
Support: 1.2200, 1.2100, 1.2000
Resistance: 1.2625, 1.2800
USD/JPY
USD/JPY weakened and soon will reach 150.00. If the pair continues its weakening and forms a lower swing low point then the bearish trend will continue. Meanwhile, if the pair can bounce up and then form a higher swing high point then the direction of the trend can change to bullish again.
Today’s critical levels to watch:
Support: 150.00, 147.00, 145.00, 141.00
Resistance:
AUD/USD
AUD/USD rose and closed above 0.6500 and today there is a continuation of the bullish movement in the pair. This bullish trend may continue towards the daily SMA 200 point to test it. If the pair can close above the daily SMA 200 then the current bullish trend can continue immediately. Conversely, when a bearish rejection occurs, the 0.6500 points will become a support point that traders can pay attention to.
Today’s critical levels to watch:
Support: 0.6350, 0.6170, 0.6000
Resistance: 0.6500, 0.6700, 0.6750, 0.6820, 0.7000