On Friday (December 8th), non farm payroll data for November in the United States showed an unexpected decline in the unemployment rate. US consumer confidence rebounded significantly in early December, exceeding expectations, and the US dollar index slightly rebounded.
US dollar index
Yesterday, the US dollar index fell and closed near the 200 day moving average. The US dollar index rose slightly today and successfully erased yesterday's decline, but the upward trend did not last too long. At present, the index is close to the opening point, and the closing price may leave the inventory not far or continue to be below the 200 day moving average. Traders will wait for today's closing to confirm the direction of next week's trend. The index is likely to remain unchanged until the Federal Reserve announces interest rates next week.
Euro/USD
The euro/dollar was driven by a strong bearish trend today. However, the currency pair has been able to recover and is currently close to the opening point. This currency pair will attempt to maintain around 1.0800 points and the 200 day moving average. If the currency pair can climb and close above these two points, the direction of the trend may once again turn bullish.
Key levels to focus on today:
Support positions: 1.0650, 1.0500
Resistance levels: 1.0800, 1.0900, 1.1000, 1.1120, 1.1185, 1.1300, 1.1360
GBP/USD
GBP/USD may fall towards the 200 day moving average, and when there is a bullish reaction, traders can prepare to enter long positions. The currency has fallen like the euro/dollar, but has now returned to near the opening point. Overall, the currency pair breaking through 1.2625 may be a preliminary confirmation of a sustained bullish trend.
Key levels worth paying attention to today:
Support positions: 1.2625, 1.2200, 1.2100, 1.2000
Resistance level: 1.2800
USD/JPY
The US dollar/yen fell and instantly hit the 200 day moving average. At present, the currency pair is still in a high volatility trend and will wait for confirmation of the next trend direction. Consolidation may occur between 142.00 and 145.00, and traders will observe the currency's response between these regions.
Key levels worth paying attention to today:
Support positions: 142.00, 141.00
Resistance levels: 145.00, 147.00, 150.00
AUD/USD
AUD/USD closed bullish yesterday, above the 200 day moving average. The currency is attempting to maintain its position above the 200 day moving average to confirm the continued bullish trend. Traders can continue to accumulate long positions around the 200 day moving average and 0.6500. As long as the currency pair can continue to form higher swing highs and swing lows, the direction of the trend will continue to be bullish.
Key levels worth paying attention to today:
Support positions: 0.6500, 0.6350, 0.6170, 0.6000
Resistance levels: 0.6700, 0.6750, 0.6820, 0.7000
