USDJPY has been marching north for the 13th session in a row on Friday
EURUSD
The US dollar stays on the offensive, regaining the upside momentum after a short-lived pause seen yesterday. After a solid plunge witnessed at the start of the week, the USD index regains ground, holding above the 113.00 mark in early European deals on Friday. The US currency stays elevated as risk aversion persists across the financial markets. Against this backdrop, EURUSD fell back below the descending 20-DMA, today at 0.9770. The pair slipped towards the 0.9750 zone ahead of the weekend, shedding nearly 0.3% on the day. Now, the shared currency needs to hold above the 0.9700 mark in order to refrain from a deeper retreat in the near term. On the four-hour charts, the RSI points south in neutral territory, suggesting the downside momentum could persist at this stage. On the upside, the immediate resistance now arrives at 0.9800, followed by the 0.9845 zone.
GBPUSD
The cable briefly jumped to 1.1440 at the start of the week in a broad-based risk-on rally. However, the pair has retreated since then after a failure to hold above 1.1400. The cable came under pressure, staying on the defensive on Friday amid the political chaos in the UK. The pound slipped towards the 20-DMA, currently at 1.1140, losing 0.83% on the day. Now, the pair needs to hold above 1.1100 in order to stay afloat in the immediate term. On the positive side, the cable is holding off historic lows registered last month around 1.0350. Earlier in October, the rally for the pair was capped by the 1.1500 figure, pushing the prices back below 1.1000. GBPUSD was last seen flirting with the mentioned moving average. Should the prices fail to stay above 1.1100 in the near term, the pair could retest the 1.1060 intermediate support zone.
USDJPY
USDJPY has been marching north for the 13th session in a row on Friday. Earlier in the week, the pair exceeded the 149.00 figure for the first time in more than 30 years to extend the ascent to the 151.00 zone. The dollar was last seen changing hands around 150.94, adding 0,54% on the day. The fact that the prices keep clinging to the upper end of the extended trading range suggests the greenback could extend the ascent despite overbought conditions. As such, USDJPY continues to hold steady after the recent jump and could target fresh long-term highs in the near term. Now, USDJPY needs to confirm a break above 150.00 on a daily and weekly closing basis and refrain from a major retreat amid overbought conditions. On the downside, the immediate support now arrives at 150.30, followed by the 150.00 mark and the 149.45 zone. On the four-hour timeframes, the RSI stays resilient in overbought territory, with the overall technical picture looking strongly bullish.
XAUUSD
Gold has been trending south these days after a failed bounce towards the 20-DMA at the start of the week. The XAUUSD pair slipped from the moving average (today at $1,664) to extend the descent towards late-September lows around $1,617. Today, the yellow metal stays pressured amid the rallying dollar. The bullion was last seen changing hands around $1,622, shedding 0.65% on the day. The XAUUSD pair is likely to stay below the mentioned 20-DMA in the near term, with bearish risks persisting. On the downside, the nearest significant support now arrives at $1,614 zone that capped the plunge last month. On the weekly timeframes, the price of gold holds below the key moving averages while the RSI points south in neutral territory, painting a negative technical picture. A failure to hold above the mentioned support zone would pave the way towards the $1,600 mark last seen in April 2020.
