Forex Technical Major Pairs analysis March 13, 2018

USDX (USD Index)

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The bull is losing upward momentum in U.S dollar index as the price keeps falling for the second day. The index currently testing the trendline support and there is no sign of bounce yet. If the bear could push the index and close it below the trendline, then it is possible for U.S dollar index to start another bearish leg.

We still favor upward movement under current situation and think the index will head to the top red trendline.

News to watch

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Technical Analysis


EUR/USD bull has the upper hand but might have limited upside. The pair is getting near the trendline resistance and might reverse after touching it. There is no reaction yet, and EUR/USD could continue its upward movement. Another scenario to watch is the touch of blue channel top.

Today critical level to watch:

Support: 1.2300, 1.2200, 1.2100

Resistance: 1.2500


GBP/USD disregarding all bearish scenario and moved the pair above the bearish trendline. The upward movement will hit resistance 1.4000 soon. Reversal from the resistance will put GBP/USD under 1.3835 – 1.4000 range scenario. Traders could watch the price reaction near resistance and took short if strong bearish pattern emerge.

Today critical level to watch:

Support:  1.3850, 1.3835, 1.3800, 1.3600

Resistance: 1.4000


It is not an easy task for the bull to bring USD/JPY higher as 107.40 resistance stay intact. The pair attempted an upward movement but pushed downward below 107.00. The bull need to followed through with strong upward movement and close above 107.40 to overturn the bearish trend.

Today critical level to watch:

Support: 106.10, 105.50, 105.00

Resistance: 107.00, 107.40, 109.00


AUD/USD is in the new upward journey as the pair surpass 0.7875 resistance level. There is nothing to hold the pair from further upside and 0.7970 – 0.8000 will once again become a target. Traders could look for long position when pullback to 0.7875 broke resistance happen.

Today critical level to watch:

Support: 0.7875, 0.7800, 0.7750, 0.7690

Resistance: 0.7970, 0.8000

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