Forex Technical Major Pairs Analysis | September 28, 2020

USDX (USD Index)

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U.S dollar index printed further bullish close at the end of the previous week. The index looks will continue its bullish movement and target the 95.00 resistance level. If there is no change to the bullish situation then we might see further upside movement to target daily SMA 200.

EUR/USD

No room for the bull to reverse the bearish pressure last week. It is a full bearish week without any bullish reaction. EUR/USD currently traded lower and soon will reach 1.1580. If the support level not holding out against the bearish pressure then we expect the pair to target 1.1450 – 1.1500 area.

This week, the 1.1580 support level will become the major level to focus.

today critical levels to watch:

Support: 1.1600, 1.1580

Resistance: 1.1710, 1.1820, 1.2000

GBP/USD

GBP/USD pushed lower last week below 1.2800 and settled near the daily SMA 200. The pair currently waiting for a further reaction from the daily SMA 200 and the nearest support trendline. If the pair could not print major bullish reactions then it might continue to target 1.2625 or lower.

Today Critical level to watch:

Support: 1.2625

Resistance: 1.2800, 1.3000, 1.3050

USD/JPY

USD/JPY climbed above 105.00 and maintained the positions above it. The pair will attempt to extend its bullish movement this week and target a higher high above 106.70. Without a higher high printed on the daily chart, the pair has a risk to resume its bearish movement below 105.00.

Today critical levels to watch:

Support: 105.00, 101.50, 101.19

Resistance: 106.0, 106.70

AUD/USD

AUD/USD had a bearish streak from 0.7330 toward 0.7000. The pair tested the level near 0.7000 but could not print a bullish reaction. This week, the 0.7000 support level will become traders’ focus. If bearish breakout happen then AUD/USD might continue its downward movement toward 0.6820 and daily SMA 200.

Today critical levels to watch:

Support: 0.7000, 0.6820

Resistance: 0.7160, 0.7300, 0.7330

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