Forex Technical Major Pairs Analysis | October 14, 2021

USDX (USD Index)

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U.S dollar index under pressure below the 94.00 level. However, the index makes a recovery and currently trading above the opening level. If the index continues to build bullish pressure then we might see a bounce from the level and continuation toward the 95.00 resistance level.

EUR/USD

EUR/USD closed above the 1.1580 level and might start an upward movement to retest 1.1710. However, the bullish movement seems losing momentum today and it is currently trading near the opening level. If the pair make a close below 1.1580 then we might see a bearish continuation toward 1.1500.

Today critical levels to watch:

Support: 1.1500, 1.1360

Resistance: 1.1580, 1.1710, 1.1820, 1.2000, 1.2070

GBP/USD

GBP/USD starts to move upward and reach the daily SMA 200 today. There was a breakout above the averages but the pair has return below it. If the pair could close above the daily SMA 200 with strong bullish momentum then we might see a continuation toward 1.3835. On the other hand, major bearish rejection and close below 1.3600 is bearish continuation confirmation.

Today Critical level to watch:

Support: 1.3600, 1.3450

Resistance: 1.3835

USD/JPY

USD/JPY closed lower yesterday but there is no bearish follow-through today. The pair building bullish pressure and has erased all of the previous day’s loss. Under the current situation, there is no change to the bullish outlook, and the pair is expected to reach 114.50 – 115.00 resistance levels.

Today critical levels to watch:

Support: 112.00, 111.00, 110.00

Resistance: 113.00, 114.50

AUD/USD

AUD/USD rally above the 0.7300 – 0.7330 area toward the 0.7450 – 0.7500 as mentioned in the previous analysis. The pair soon will test the area and might extend bullish movement toward the daily SMA 200. Traders will observe the reaction near resistances levels. If there is a major bearish reaction then we might see a bearish continuation to test the level below 0.7300.

Today critical levels to watch:

Support: 0.7160, 0.7000

Resistance: 0.7300, 0.7330, 0.7450, 0.7500

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