**Forex Major Pairs Technical Analysis – October 24, 2025**
*Adapted and expanded from FXDailyReport.com with added analysis and context, original reporting by Azmi Haq.*
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The foreign exchange market continues to see significant volatility as major currency pairs react to evolving global economic conditions, central bank monetary policies, and ongoing geopolitical tensions. Traders and investors remain attentive to technical developments on key pairs, which offer insights into potential market direction and trading opportunities. Below is a comprehensive technical analysis of several major forex pairs for October 24, 2025, examining critical price levels, chart patterns, and fundamental drivers that may influence future movements.
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### **EUR/USD – Correction Faces Key Resistance Levels**
The EUR/USD pair made a robust recovery attempt recently but encountered persistent selling pressure near established resistance. The pair’s upside move was largely fueled by a weakening in the US dollar, as market participants anticipate a potential shift in the Federal Reserve’s monetary policy stance amid softer inflation data and mixed economic reports.
**Technical Overview:**
– **Current Trend**: After bouncing above the 1.0500 psychological support, EUR/USD has found resistance near the 1.0700–1.0750 region. The 50-day simple moving average (SMA) is acting as a dynamic resistance point to further advances.
– **Support Levels**:
– 1.0500: Remains a significant floor, underpinned by strong demand.
– 1.0600: Acts as initial short-term support following recent consolidation.
– **Resistance Levels**:
– 1.0700: Immediate resistance and focus for bulls.
– 1.0750: Next major hurdle; coincides with the 50-day SMA.
– 1.0800: Breakout above this level would indicate a more sustained reversal.
**Key Technical Indicators:**
– Relative Strength Index (RSI) has rebounded from oversold levels but remains below the 50 mark, suggesting ongoing bearish pressure.
– MACD shows decreasing negative momentum, signaling a potential shift to bullish sentiment if price holds above immediate support.
**Fundamental Drivers:**
– Easing US inflation readings and speculation of a less aggressive Federal Reserve tightening cycle are weakening the dollar’s safe haven status.
– The European Central Bank maintains a cautious policy outlook, citing uneven eurozone economic recovery, which limits EUR gains.
**Forecast and Trading Strategy:**
Bulls need a decisive daily close above 1.0750 to challenge the 1.0800 resistance, possibly opening room for a more extended retracement toward 1.0900. Conversely, a break below 1.0600 could expose EUR/USD to renewed downside risk, targeting 1.0500 and beyond.
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### **GBP/USD – Bullish Momentum on Softening Dollar**
Cable has risen off its recent lows, capitalizing on dollar weakness and some encouraging UK economic data. Nevertheless, the path higher remains obstructed
Read more on AUD/USD trading.