USDX (USD Index)
The U.S. dollar index is still trying to move up after the Fed’s announcement. The bullish situation seems to be sustainable and traders should wait again for the index to form a higher swing high point or make a bearish movement. The bullish or sideway situation could persist until the next Fed meeting. As long as there is no strong bearish confirmation, traders should not enter short positions on the U.S. dollar.
EUR/USD
EUR/USD is under bearish pressure but can maintain its position near 1.0650. However, the pair appears to continue to be under bearish pressure at the moment. If the pair is pushed down and then forms a lower swing low point then the bearish trend can continue. To reverse the current bearish trend, a close above the daily SMA 200 point is needed.
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 heading towards the support point of 1.2200 and is likely to reach it shortly. The situation of the pair is bearish and there is no confirmation of a change in direction. Traders will now wait for the pair to bounce from the 1.2200 points or make a close above the daily SMA 200 point to confirm the reversal. As long as the pair continues to form lower swing high points and lower swing lows, the situation is still bearish.
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 looks to be moving back up after yesterday’s bearish close. The pair will try to continue its strengthening towards 150.00 as previously planned. Close below 147.00 will confirm consolidation between 145.00 – 147.00. For now, wait-and-see may be the best option if the trader does not yet have a position.
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 pushed down after being rejected from 0.6500. The pair is threatened with continuing its bearish movement to form a lower swing low point. However, currently, the pair looks to be moving up and will try to erase the decline that has occurred. If the pair can continue its upward movement and close above 0.6500 then the direction of movement can change to bullish.
Today’s critical levels to watch:
Support:
Resistance: 0.6500, 0.6700, 0.6750, 0.6820, 0.7000