The decline has deepened. Cardano is down around 26% over the past month, and roughly 12% in just the past week, which is a pace that has accelerated rather than eased.
The following are the most recent pieces of Forex technical analysis from around the world. The Forex technical analysis below covers the various currencies on the market and the most recent trends, technical indicators, as well as resistance and support levels.
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USD/JPY broke above the important ¥159 resistance level as expectations of tighter Federal Reserve policy and the US-Japan interest-rate differential supported dollar buying.
Copper surrendered its early gains during Wednesday's holiday-thinned session, with recovering supply and concerns about technology-sector demand weighing on sentiment.
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The stumble in this precious metal the past two and a half days correlates to broad market action via stronger USD centric trading in Forex.
AUD/USD fell to its lowest level since March as rising US bond yields and renewed dollar strength weighed on the Australian currency.
GBP/USD remains under bearish pressure as rising US Treasury yields and expectations of further Federal Reserve tightening strengthen the dollar.
EUR/USD extended its decline as rising US bond yields and expectations of further Federal Reserve tightening strengthened the dollar.
The surprising inflation data caused financial houses to react fast and the EUR/USD was put under immediate pressure. This occurred because fear of another Federal Funds Rate hike in December was essentially confirmed within the mindsets of analysts’ outlooks.
Bitcoin Forecast Nov. 12: BTC/USD Tests $72,557 Support
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USD/CHF extended its rally on Wednesday, breaking above the important 0.8300 level as expectations of tighter Federal Reserve policy and Switzerland's low interest rates supported the carry trade.
AUD/USD surrendered its early gains on Wednesday as broader risk aversion and US dollar strength continued to pressure the Australian dollar.
Gold extended its decline on Wednesday as elevated US yields and persistent inflation concerns weighed on the metal.
Silver struggled to maintain its early gains during Wednesday's holiday-thinned trading session, reinforcing concerns about weak buying momentum.
EUR/USD extended its decline on Wednesday, breaking below the 1.1100 support level as rising US yields and expectations of tighter Federal Reserve policy strengthened the dollar.
King Crypto is facing renewed macroeconomic pressure after hotter-than-expected US inflation data strengthened expectations that the Federal Reserve could raise interest rates in December.