The dollar index made a bearish close and today is trying to reverse course. Initially the index was able to rise and test 96.10, but now the index has dropped and is trading below the opening point. If the index continues to weaken then in the near term the points 95.50 and 95.00 can be reached.

As long as there is no lower low, the trader should not enter a short position.

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EUR/USD is still hovering near 1.1300 – 1.1360. Current conditions continue to change rapidly following the development of the global situation. Russia-Ukraine relations continue to heat up with accusations of attacks. EUR/USD is likely to continue consolidating near 1.1300 – 1.1360 for now.

Support and resistance points to note:

Support: 1.1300, 1.1185

Resistance: 1.1360, 1.1500


GBP/USD closed near the 200 and 1.3600 SMAs. There has been no strong close above either point. However, currently the bullish pressure seems to have penetrated the two resistance points. Testing of the trendline is in progress. Will the pair be able to maintain its bullish pressure and start a bullish trend above the 200 SMA?

Support and resistance points to note:

Support: 1.3450, 1.3330, 1.3300

Resistance: 1.3600, 1.3835


USD/JPY is moving downwards away from the 115.90 point and is now approaching 114.50 and the trendline. As noted in previous analyzes, traders can use the 114.50 point and the trendline as a place to enter long positions. Traders should wait for the bearish momentum to decrease and a rebound reaction occurs before entering a long position.

Support and resistance points to note:

Support: 115.00, 114.50, 113.00, 112.00

Resistance: 115.90


AUD/USD closed again above 0.7160 but arguably not a very strong bullish close. The pair pushed down but was able to bounce from 0.7160. If the advance continues then the pair may move towards 0.7300 – 0.7330 and the 200 SMA. As long as there is no close above the 200 SMA, the trend can be said to be bearish.

Support and resistance points to note:

Support: 0.7160, 0.7000

Resistance: 0.7300, 0.7330


By Jaya