Original article by Tomasz Wisniewski, sourced from FXDailyReport.com
URL: https://fxdailyreport.com/forex-technical-major-pairs-analysis-october-24-2025/
Forex Technical Major Pairs Analysis – October 24, 2025
By Tomasz Wisniewski | FXDailyReport.com
The global currency market shows mixed activity as major pairs continue to react to economic indicators, central bank policies, and geopolitical developments. On October 24, 2025, traders are closely watching key technical levels for major forex pairs. Below is a comprehensive analysis of the primary currency pairs, focusing on recent market moves, support and resistance zones, and indicators that suggest potential breakout or reversal points.
EUR/USD Analysis
The EUR/USD pair has been locked in a tight range but shows signs of possible bullish momentum. The pair has recently tested a strong support zone near 1.0600, bouncing marginally higher on several occasions. Renewed buying pressure could push the price above short-term resistance levels.
Key Technical Observations:
– Support remains firm around the 1.0600 level, which has acted as a springboard over the past week.
– Short-term resistance is located near 1.0700. A break above this level could open the path toward 1.0800.
– The RSI (Relative Strength Index) and MACD (Moving Average Convergence Divergence) indicators are showing early bullish divergence, hinting at a potential upward breakout.
– Traders should monitor the 50-day simple moving average (SMA), which is currently flattening out, indicating consolidation.
In the near term, a close above 1.0700 would encourage bulls and suggest a potential climb toward the 1.0800 and 1.0900 levels. On the downside, failure to hold 1.0600 may lead to a retest of previous lows around 1.0500.
GBP/USD Analysis
The British pound continues to trade within a descending channel, influenced both by domestic economic concerns and broader US dollar strength. After briefly dipping under the 1.2100 level, the pair rebounded slightly, but momentum remains weak.
Key Levels and Patterns:
– Immediate resistance lies at 1.2200. A break above might challenge the upper limit of the descending channel around 1.2300.
– The 1.2100 and 1.2000 zones are key support areas. A breach below 1.2000 could signal a deeper bearish trend.
– The RSI is hovering near 40, showing lingering bearish sentiment but no clear oversold signal.
– Short-term moving averages (20 SMA and 50 SMA) are both angled downward, confirming the prevailing bearish bias.
If market sentiment favors the dollar, it could place further downside pressure on GBP/USD. On the other hand, a shift in interest rate expectations or CPI data surprises from the UK could catalyze a short-term reversal.
USD/JPY Analysis
The Japanese yen continues to weaken against the US dollar, with the pair climbing to multi-decade highs. Persistent divergence in interest rate policy between the Federal Reserve and the Bank of Japan has supported sustained bullish momentum.
Current Market Highlights:
– The USD/JPY pair is trading near 150.50, a level last seen in the early 1990s.
– The pair broke above the psychological 150.00 mark, triggering speculative buying and stop-loss orders from short sellers.
– Momentum indicators show overbought readings, suggesting possible profit-taking but no strong reversal signs yet.
– Support now rests at 149.00, while resistance could emerge around 151.20 and 152.00.
Despite being overextended, there is little technical evidence pointing toward an imminent correction. However, traders should remain cautious of BoJ interventions, which have historically occurred around similar levels.
AUD/USD Analysis
The Australian dollar has traded sideways against the US dollar in recent sessions. Concerns
Explore this further here: USD/JPY trading.