**Forex Technical Major Pairs Analysis – October 3, 2025**
Original Article by F.X. Ruppert | Source: FXDailyReport.com
Market participants closely monitored the major forex pairs on October 3, 2025, as technical setups provided potential trading opportunities in the volatile forex markets. With US economic data continuing to shape global sentiment and central bank policy diverging across key economies, traders were focused on price reactions around support and resistance zones. This detailed technical analysis reviews the behavior of major currency pairs including EUR/USD, GBP/USD, USD/JPY, USD/CAD, AUD/USD, and NZD/USD with a focus on price actions, key technical levels, and short to medium-term forecasts.
**EUR/USD – Euro Trading Lower Against the Dollar**
The EUR/USD remained under selling pressure, continuing its broad downtrend. Recent data from the Eurozone and robust indicators from the US have favored the dollar, keeping the EUR suppressed.
– The bearish structure remains intact with a clear rejection from the 1.0700 resistance area.
– Price is holding below the 20-day and 50-day exponential moving averages (EMAs), suggesting sustained downward momentum.
– RSI (Relative Strength Index) remains under 50, reinforcing the bearish bias.
– Key support sits near 1.0470. If this level breaks, a slide toward 1.0350 may follow.
– A bounce above 1.0700 would be needed for bulls to reclaim some control, with potential for a climb toward the 1.0800 resistance level.
Traders should remain cautious of short-term rebounds in bearish markets, especially ahead of major macroeconomic releases including Non-Farm Payrolls and inflation data in the US.
**GBP/USD – British Pound Stays Near Recent Lows**
The GBP/USD extended its downward momentum this week as concerns over the UK’s economic trajectory combine with US dollar strength, resulting in a bearish sentiment for the pound.
– The pair has formed a consistent lower-high and lower-low structure on the daily chart.
– Immediate resistance lies near 1.2210. Price action remains capped below both 20-day and 50-day EMAs.
– Support is seen near the 1.2050 level. A break could open the door toward psychological support at 1.2000.
– RSI continues to trend downward and currently hovers around oversold levels, indicating potential for a minor technical rebound.
– Traders should watch the 1.2300 area for signs of a bullish reversal. However, without a strong fundamental catalyst, a full retracement remains unlikely.
For now, momentum favors the sellers, and any rallies may offer opportunities to reload short positions targeting new lows.
**USD/JPY – Bulls in Full Control as Pair Climbs Higher**
USD/JPY continues its impressive uptrend, reaching levels that have not been seen in months as the Federal Reserve’s hawkish stance supports US yields. While Japanese authorities remain cautious, they have yet to intervene verbally or physically in a meaningful way.
– The pair broke above previous resistance at 149.70 and now targets the key 150.00 psychological level.
– Bullish momentum is strong with price action riding above the 20-day and 50-day EMAs.
– RSI remains near overbought levels but has yet to flash a divergence signal.
– Should the pair settle above the 150.00 handle, the next technical resistance may be found near 151.80.
– On the downside, short-term support lies at 148.50. A retracement below this could prompt consolidation before resuming the uptrend.
As the Bank of Japan continues ultra-loose monetary policy, market expectations for yield compression remain low, favoring the long USD/JPY trade.
**USD/CAD – Loonie Struggles as Oil Prices Lag**
The USD/CAD pair continues to track the wider dollar strength narrative, though movements in crude oil prices have also influenced the Canadian dollar.
Read more on EUR/USD trading.