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FX Week Ahead: Range-Bound Action Continues Across Major Currency Pairs

FX Week Ahead: Range-Bound Action Continues Across Major Currency Pairs

is currently trading near 0.5243, hovering just above a key horizontal support zone around 0.5220–0.5200, which has acted as both support and resistance multiple times since June. Price action has been broadly sideways over the past few months, with neither bulls nor bears gaining sustained control.
The 15-day moving average and 20-day moving average are tightly converged and relatively flat, reinforcing the idea of consolidation. Short-lived rallies toward 0.5280–0.5300 have consistently met selling pressure, while dips below 0.5200 have been bought back quickly, keeping the pair in a narrow range.
On the upside, a rebound from current levels would first target 0.5280, followed by a stronger resistance band near 0.5340–0.5360. A decisive break and close above this zone would indicate a bullish continuation and potentially open the door toward 0.5450.
On the downside, a sustained daily close below 0.5200 would expose 0.5150 and the May lows near 0.5110, marking a return to bearish momentum.
For now, the pair remains in a range-bound structure. Holding above 0.5200 keeps the base intact, but a breakdown would confirm sellers have regained control.
is currently trading near 0.6590, holding just above a key horizontal support zone that has been tested multiple times since July. The pair has recovered steadily from the April lows near 0.58, but the broader downtrend from last year’s peak around 0.70 remains intact.
The 15-day moving average has been trending above the 20-day moving average since August, reflecting improving short-term bullish momentum. However, the recent pullback suggests consolidation, with both moving averages flattening out, hinting at a potential pause in upside momentum.
On the upside, immediate resistance lies at 0.6700–0.6750, where rallies have repeatedly stalled in recent weeks. A sustained break above this zone would confirm bullish continuation and open the way toward 0.6850–0.6900.
On the downside, a decisive break below 0.6550 would weaken the bullish structure and expose the next support at 0.6450, followed by 0.6350. A deeper decline could put the broader bearish trend back in focus.
For now, the pair sits at an inflection point — holding above 0.6550 keeps near-term upside prospects alive, but failure to do so risks a return to the longer-term downtrend.
is currently trading near 1.1742, consolidating after recently pulling back from highs above 1.1900. The pair has been in a steady uptrend since February, marked by a series of higher lows and higher highs, driven by consistent euro strength.
The 15-day moving average remains above the 20-day moving average, both pointing upward, confirming that bullish momentum is still intact despite the recent retracement.
On the upside, the immediate resistance is around 1.1850–1.1900, where sellers stepped in earlier this month. A breakout above this zone would expose higher targets at 1.2050 and 1.2150, potentially extending the broader rally.
On the downside, support lies first at 1.1650–1.1700, which coincides with the moving average cluster, followed by stronger demand around 1.1500. A daily close below this zone would indicate weakening momentum and could shift bias toward consolidation or a deeper correction.
For now, the pair remains in a bullish structure, but the pair is testing a key support area. Holding above 1.1700 keeps the uptrend intact, while a breakdown below would suggest a pause in euro strength against the dollar.
is currently trading near 1.3468, sitting just above a key horizontal support zone that has been tested several times since May. After rallying strongly from the 1.2500 region earlier this year, the pair peaked near 1.3800 in July, before retreating into a consolidation range.
The 15-day moving average has recently crossed below the 20-day moving average, indicating waning bullish momentum. Both moving averages are flattening out, signalling a market caught between profit-taking and dip buying around this key level.
On the upside, a rebound from here would first target 1.3600–1.3650, followed by a more significant resistance area at 1.3750–1.3800, where sellers stepped in during July. A decisive close above that region would open the door toward 1.4000.
On the downside, immediate support lies at 1.3400–1.3450. A daily close below this level would expose 1.3200, and further weakness could extend toward the 1.3000 psychological level.
For now, the pair is at a critical inflection point — holding above 1.3450 keeps the medium-term bullish structure intact, but a breakdown here would confirm the start of a deeper correction.
is currently trading around 1.3782, consolidating after a prolonged downtrend from its March peak near 1.4200. Since May, the pair has been range-bound, with multiple failed attempts to establish a clear directional bias.
The 15-day and 20-day moving averages have remained relatively flat in recent weeks, reflecting the lack of momentum and highlighting the pair’s sideways trading environment. This consolidation follows a sharp selloff earlier in the year, suggesting the market is waiting for a catalyst to define the next trend leg.
On the upside, immediate resistance is seen at 1.3850–1.3900, with a stronger barrier near 1.4000. A sustained break above these levels would mark a shift back toward bullish momentum.
On the downside, key support lies at 1.3700, followed by 1.3600. A decisive close below this zone would reinforce bearish continuation, exposing deeper levels around 1.3450.
For now, the pair remains in a neutral-to-bearish posture, with short-term direction hinging on whether the pair can hold above 1.3700 or break back into its lower trading range.
is currently trading around 0.7955, holding just above multi-month lows. The pair has been in a persistent downtrend since March, when it traded closer to 0.8850, reflecting steady Swiss franc strength against the US dollar.
The 15-day and 20-day moving averages remain negatively sloped, with the shorter-term average tracking below the longer-term one, reinforcing bearish momentum. Attempts at recovery through June–August stalled near the 0.8050–0.8100 region, highlighting it as a strong resistance zone.
On the upside, key resistance sits first at 0.8050, then higher around 0.8200. A break and sustained close above these levels would be needed to reduce downside pressure and shift sentiment toward a recovery.
On the downside, immediate support lies at 0.7850, with a stronger floor at 0.7700. A decisive move below these levels could open the path toward the 0.7600 handle, marking further downside extension.
Overall, the pair remains bearish-to-neutral, with downward bias intact unless price action can reclaim and hold above the 0.8050 resistance zone.
is currently trading near 147.95, consolidating after a sideways phase that has lasted since mid-July. The pair has been holding in a tight range between 145.50 and 149.50, suggesting market indecision and awaiting a breakout catalyst.
The 15-day and 20-day moving averages are almost flat, reflecting the prolonged consolidation. Momentum has slowed compared to the strong bullish leg from May to July, which carried the pair from 137.70 lows to above 150.00.
Key resistance lies at 150.00, a psychological and technical level that has capped rallies since August. A clean break above this level could reignite bullish momentum toward the 152.00 region.
On the downside, initial support is seen at 146.00, with stronger demand around 144.00–143.50. A decisive drop below these levels would shift bias toward bearish continuation, exposing the 140.00 handle.
Overall, the pair remains range-bound with bullish bias intact above 146. A breakout above 150.00 would confirm trend continuation, while a drop under 144.00 would tilt momentum bearish.
is currently trading near 17.58, sitting right above a critical horizontal support zone at 17.30, which has been tested multiple times since August. The pair has been in a steady downtrend since peaking above 20.30 in April, with consistent lower highs and lower lows marking ZAR strength.
The 15-day and 20-day moving averages remain downward-sloping, confirming persistent bearish momentum. However, they are now relatively close to each other, signalling possible consolidation around this key support.
On the upside, a rebound from here would first target 17.90–18.10, followed by stronger resistance at 18.60–18.80, where sellers previously re-entered the market. A sustained break above 18.80 would suggest a potential trend reversal.
On the downside, a daily close below 17.30 would expose the next support levels at 17.00 and 16.70, opening room for further ZAR gains against the dollar.
For now, the pair remains at a crucial inflection point — holding above 17.30 keeps the pair in consolidation, while a breakdown would confirm continuation of the broader bearish trend that has dominated since April.