USDX (USD Index)
A bullish close occurred on the dollar index yesterday and today there is a continuation of the increase which could be an indication of the continuation of the bullish trend. However, the increase that occurred did not have strong momentum so the current situation is still waiting for developments. Traders will wait for Fed Jerome Powell’s speech and also the release of U.S. GDP data. which will have a big influence on market movements.
EUR/USD
EUR/USD bounced down from 1.0650 so consolidation between 1.0500 – 1.0650 will continue. The pair succeeded in making a higher swing high point on a bullish attempt so there is an opportunity for continuation of the bullish movement when the pair succeeded in forming a higher swing low point. Traders will use the range 1.0500 – 1.0650 to carry out range trading.
Today’s critical levels to watch:
Support: 1.0500
Resistance: 1.0650, 1.0800, 1.0900, 1.1000, 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD fell and tested 1.2100 today. If there is no further bullish reaction, the pair can continue its movement towards the next 1.2000 point. For now, consolidation will likely take place between 1.2000 – 1.2200 and traders will wait for a close outside this area to confirm the next direction of movement.
Today’s critical levels to watch:
Support: 1.2100, 1.2000
Resistance: 1.2200, 1.2625, 1.2800
USD/JPY
USD/JPY didn’t move much and is sticking near 150.00. The pair’s movement for now will still be sideway and traders can only wait for further reaction near 150.00. It is possible that traders are waiting for the BOJ’s reaction and prefer to wait & see. In the previous event, the BOJ intervened and USD/JPY fell sharply from 150.00.
Today’s critical levels to watch:
Support: 147.00, 145.00, 141.00
Resistance: 150.00
AUD/USD
AUD/USD is trying to move up above the horizontal resistance point shown on the daily chart. However, the increase has now reversed and the pair is below the opening point. If the pair continues its bearish movement and manages to form a lower swing low point then the bearish trend can continue.
Today’s critical levels to watch:
Support: 0.6170, 0.6000
Resistance: 0.6500, 0.6700, 0.6750, 0.6820, 0.7000