USDX (USD Index)

There is no room for weakening in the U.S. dollar index which continues to strengthen in line with the increase in U.S. treasury yields. Market players are worried that the Fed will still need to raise interest rates in line with the current developing situation. Still the same as before, for now, traders can only wait for a bearish reversal in the U.S. dollar index for further confirmation. As long as the index can still form higher swing high and swing low points, the situation is bullish.

EUR/USD

EUR/USD continues to weaken below 1.0650 but is still limited near yesterday’s low. The situation on the pair is still bearish and there is no indication of a bullish reversal. For now, traders can only follow the bearish movement of the pair and wait for a bullish correction to occur. For an initial reversal, a close above 1.0650 is needed. If the pair can move up then the daily SMA 200 point will be a resistance point that needs to be watched.

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 continues its bearish movement and is currently below 1.2200. Traders will observe the reaction of the pair between 1.2000 – 1.2200 for now. There are no bullish indications yet and there is also no confirmation to enter a position. When the pair manages to move up, the daily SMA 200 point is a point that needs to be considered as resistance level.

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 continues to strengthen with 150.00 as the target increases. There has been no confirmation of a change in bullish direction and the pair continues to form higher swing high and higher swing low points. There is a possibility that 150.00 could be a reversal point for the long term. Traders should wait for further reaction near that point.

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 continue its weakness in today’s trading. The pair moved down but was limited near yesterday’s low. Consolidation may also take place near the current point and traders will wait for developments. The return of the pair above 0.6500 will change the trend direction to bullish. Meanwhile, a decline and the formation of a lower swing low point will confirm the continuation of the bearish trend.

Today’s critical levels to watch:

Support:

Resistance: 0.6500, 0.6700, 0.6750, 0.6820, 0.7000