USDX (USD Index)
The U.S. dollar index is starting a bullish correction phase towards SMA 200. The index will test this point and wait for a reaction. If there is a close above it, the increase can continue with the possibility of a lower swing high point forming in the range of 104.80. Traders will wait for bearish confirmation to re-enter short positions on the U.S. dollar.
EUR/USD
EUR/USD fell with quite a strong bearish momentum and is now near 1.0900. The pair will test that point for now. If a bearish break occurs then the 1.0800 points and the daily SMA 200 will become targets for decline. Traders will take advantage of the current bearish situation as an opportunity to enter long positions near the support point.
Today’s critical levels to watch:
Support: 1.0900, 1.0800, 1.0650, 1.0500
Resistance: 1.1000, 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD was corrected bearishly to 1.2625 today. The pair has a chance to weaken further towards the daily SMA 200 point. However, traders will avoid short positions and wait for a bullish reaction near the support point. When a bullish reaction occurs, traders can consider entering a long position.
Today’s critical levels to watch:
Support: 1.2625, 1.2200, 1.2100, 1.2000
Resistance: 1.2800
USD/JPY
USD/JPY made a bearish close yesterday and is on a weakening path towards 147.00 and 145.00. Today there was a pause in the decline and the pair moved up above yesterday’s high point. The bullish movement may continue for a few days and traders can wait for the pair to lose its bullish momentum for short position opportunities.
Today’s critical levels to watch:
Support: 147.00, 145.00, 141.00
Resistance: 150.00
AUD/USD
AUD/USD fell and tested the daily SMA 200 point today. The pair succeeded in making a bullish reaction, bouncing from the averages, and has the opportunity to immediately continue the increase towards 0.6700 and 0.6750. However, the pair can also consolidate near the daily SMA 200 point while waiting for further bullish confirmation.
Today’s critical levels to watch:
Support: 0.6500, 0.6350, 0.6170, 0.6000
Resistance: 0.6700, 0.6750, 0.6820, 0.7000