Forex Technical Major Pairs Analysis - Friday, Oct. 2

USDX (USD Index)

The U.S. Dollar Index closed above the 101.79 level. A retest of this level occurred today, with price action showing a clean bounce off it. Today’s upcoming U.S. job data could trigger sharp volatility, leading to either a sharp downward movement or a strong upward continuation targeting the 103.00 level.

EUR/USD

EUR/USD dropped and closed below 1.3000 with strong momentum. The bears are in full control following the formation of a new lower swing low. If the pair attempts a recovery, the 1.300 – 1.1360 region will act as a solid resistance zone. Traders will wait for the daily closing level to get better confirmation.

Bitcoin News Analysis

Today’s critical levels to watch:

Support: 1.1360, 1.1300

Resistance: 1.1500, 1.1580, 1.1710, 1.1820, 1.2000, 1.2070

GBP/USD

GBP/USD shows ongoing bearish continuation below the 1.3250 level. The pair may extend its downward movement to target 1.3125 next. A recovery back above 1.3250 followed by a close above 1.3330 would serve as confirmation that the bulls are taking back control.

Today’s critical levels to watch:

Support: 1.3250

Resistance: 1.3300, 1.3330, 1.3450, 1.3600

USD/JPY

Another test of the daily SMA 200 took place yesterday, and the pair is exhibiting slight weakness today. We maintain a bearish view on the pair for the time being. Traders holding short positions are positioning stop orders above 159.05 or higher up above 160.40. On the lower side, the previous swing low wil become the target to watch.

Bitcoin News Analysis

Today’s critical levels to watch:

Support: 155.50, 154.00, 150.00

Resistance: 158.89

AUD/USD

AUD/USD pushed deeper lower below the 0.7000 threshold. While price action is pausing for now, market reactions are expected following the release of today’s U.S. job data. Both 0.7000 and the daily SMA 200 will act as overhead resistance if the pair initiates any recovery. Close above the daily SMA 200 will confirm the bullish reversal.

Today’s critical levels to watch:

Support: 0.6820, 0.6750, 0.6700, 0.6600

Resistance: 0.7000, 0.7160, 0.7300, 00.7330