USDX (USD Index)

The U.S. dollar index made a bearish close in yesterday’s trading after consecutive gains. The index initially continued its weakness but has returned to the opening point now. Bullish pressure is likely to continue as the market worries about rising US treasury yields. An increase in interest rates is inevitable but the situation in October could change.

EUR/USD

EUR/USD is trying to move up towards 1.0650 in today’s trading. The pair is still on a bearish path for now as long as it is below 1.0650. Traders will wait for a close above 1.0650 for further bullish confirmation. 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: 1.0650

Resistance: 1.0800, 1.0900, 1.1000, 1.1120, 1.1185, 1.1300, 1.1360

GBP/USD

GBP/USD bounced off 1.2100 and is now seen trading above 1.2200. However, the pair appears to be losing its bullish momentum and is at risk of further weakening. If the pair continues its upward movement then traders will wait near the daily SMA 200 point for further confirmation. A close above the daily SMA 200 point is needed to confirm a change from bearish to bullish.

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 has almost reached 150.00, which is its long-term upside target. A decline occurred today but the bearish pressure has disappeared and the pair is currently trading above the opening point. It’s only a matter of time for the pair to reach 150.00. Traders will now wait for the reaction of the pair near the 150.00 point. As long as the pair continues to form higher swing high and higher swing low points, there is no bearish confirmation.

Today’s critical levels to watch:

Support: 147.00, 145.00, 141.00

Resistance: 150.00

AUD/USD

AUD/USD jumped up and reached 0.6500 in today’s trading. In the previous bearish attempt, the pair managed to form a lower swing low point so there was no confirmation of a bullish reversal. However, if the pair can rise above 0.6500 and form a higher swing high then the situation can turn bullish.

Today’s critical levels to watch:

Support:

Resistance: 0.6500, 0.6700, 0.6750, 0.6820, 0.7000