USDX (USD Index)
The U.S. dollar index is not far from reaching 103.85 and the daily SMA 200. The decline is expected to reach these two points and provide a bullish reaction with a short-term bounce. Traders will wait for the reaction from the index and determine the strategy that can be implemented. If the index continues to weaken and closes below these two points then the bearish trend will continue.
EUR/USD
EUR/USD is still above the daily SMA 200 and 1.0800. The pair is consolidating above both points and waiting for further developments. Traders will take advantage of the decline that occurs in the pair as an opportunity to enter a long position. However, if the decline succeeds in bringing the pair down below the daily SMA 200 then the bullish movement will be halted for short term.
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 managed to rise and close above the daily SMA 200, which means the situation of the pair is bullish. Currently, the pair is seen holding near the daily SMA 200 and has the opportunity to close this week’s trading near it. Consolidation is likely to continue near the daily SMA 200 and traders will wait for a bullish reaction.
Today’s critical levels to watch:
Support: 1.2200, 1.2100, 1.2000
Resistance: 1.2625, 1.2800
USD/JPY
USD/JPY fell below 150.00 so the current situation is bearish. The pair’s decline requires the formation of a lower swing low point to confirm the continuation of the bearish movement. For now, traders can wait for the formation of a lower swing low point to confirm a change in trend direction to bearish.
Today’s critical levels to watch:
Support: 150.00, 147.00, 145.00, 141.00
Resistance:
AUD/USD
AUD/USD is now near the 0.6500 point and consolidating near it. The pair will try to continue its strengthening towards the daily SMA 200 point and traders will wait for current developments. When there is a close above daily SMA 200 then the situation of the pair will become bullish in the medium – long term.
Today’s critical levels to watch:
Support: 0.6350, 0.6170, 0.6000
Resistance: 0.6500, 0.6700, 0.6750, 0.6820, 0.7000