USDX (USD Index)
The U.S. dollar index position is still sideways ahead of the Fed’s announcement. Will the index continue its bullish movement after the announcement? Or will a bearish reversal begin and the index will enter a new bearish trend? Currently, traders should wait for the results of the announcement to determine the next direction of the index movement.
EUR/USD
EUR/USD looks to bounce off 1.0650 and will try to add to its gains. For now, the pair is expected to continue trading not far from 1.0650 while waiting for the Fed’s announcement. If the pair turns down and closes below 1.0650 at the end of the week then the bearish situation will continue.
Today’s critical levels to watch:
Support: 1.0650
Resistance: 1.0800, 1.0900, 1.1000, 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD is currently below the daily SMA 200 point and is still under bearish pressure. There is no indication of a change in direction yet and traders can only wait for now. Technically, the pair needs a close above the daily SMA 200 to reverse the current bearish trend. If it turns out that the pair is still moving down towards 1.2200 and forms a lower swing low point, then the current bearish situation will continue.
Today’s critical levels to watch:
Support: 1.2200
Resistance: 1.2625, 1.2800, 1.3000, 1.3250, 1.3300, 1.3330
USD/JPY
USD/JPY maintains its position above 147.00 and there is no indication of a change in direction. Currently, market players are waiting for developments in U.S. interest rates. If the pair continues its bullish movement then the 150.00 point can be an increase target. Meanwhile, if a decline occurs then the pair can make ranging movement between 145.00 – 147.00.
Today’s critical levels to watch:
Support: 145.00, 141.00, 140.00, 139.30, 137.70, 133.00
Resistance: 147.00
AUD/USD
AUD/USD is trying to move up but looks to be losing bullish momentum. The pair will still await further developments and is likely to be trading sideways at the moment. Can the pair return above 0.6500 and reverse the current bearish trend? Or will the pair continue to weaken to form a lower swing low point?
Today’s critical levels to watch:
Support:
Resistance: 0.6500, 0.6700, 0.6750, 0.6820, 0.7000