Forex Technical Major Pairs Analysis | September 23, 2021

USDX (USD Index)

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U.S dollar index bounced from the 93.00 level and made a bullish close yesterday. It seems the index will continue its bullish movement to target 94.00 – 94.30. However, it is currently under bearish pressure and might close below 93.00 again. If the index closes below 93.00 then it might consolidate between 92.00 – 93.00.

EUR/USD

EUR/USD pushed lower and closed below 1.1710. The pair is at risk of further weakness toward 1.1580. However, the bearish pressure seems to recede today as the pair stage rally from the below 1.1710. At the current time, the pair is not far from the previous day’s high. A close above the previous day’s high will trigger a bullish continuation to test 1.1820.

Today critical levels to watch:

Support: 1.1710, 1.1580

Resistance: 1.1820, 1.2000, 1.2070

GBP/USD

GBP/USD closed the day near the 1.3600 support level and might continue its bearish movement. Luckily, the pair stage rally from the level and currently trading back above daily SMA 200. If the pair closes above SMA 200 then there is a chance for bullish continuation toward 1.3835 and 1.4000.

1.3600 and 1.4000 continue to be the levels to break before the next long-term trend set.

Today Critical level to watch:

Support: 1.3600

Resistance: 1.3835, 1.4000, 1.4325

USD/JPY

USD/JPY next direction seems to continue to be uncertain as the pair trade back near 110.00. At the current time, the pair climb above 110.00 and might close the week near it. Traders will continue to expect the pair to stick near 110.00 and wait for major momentum movement away from the level to determine the next trend.

Today critical levels to watch:

Support: 109.00, 108.00

Resistance: 110.00, 111.00, 112.00

AUD/USD

AUD/USD reverse the bearish pressure and currently trade upward to test the 0.7300 – 0.7330 area. There is no conclusion yet on where the pair will move next. A close above 0.7330 will open the path toward 0.7450 – 0.7500 area and the daily SMA 200. A major bearish rejection from 0.7300 – 0.7330 will trigger a sell-off to test 0.7160.

Today critical levels to watch:

Support: 0.7160, 0.7000

Resistance: 0.7300, 0.7330, 0.7450, 0.7500

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