King Crypto has rebounded toward $78,000 after briefly falling to $75,600 as US midterm election results pointed to a Democratic sweep of Congress.
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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Bitcoin rebounds after an initial sell-off following the US congressional elections. The recovery toward $78,000 improves market sentiment, although resistance at $78,677 and $80,321 leaves the technical outlook uncertain.
AUD/USD continues to weaken despite the Reserve Bank of Australia's decision to raise interest rates to 4.85%.
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GBP/USD has recovered toward 1.3428 resistance, but declining trend strength raises concerns about the sustainability of the rally.
EUR/USD remains within its recent trading range as growing expectations of an ECB interest rate hike support the euro.
The Australian dollar weakened despite the Reserve Bank of Australia's latest interest rate increase, as traders considered the possibility of a pause in further tightening.
EUR/USD struggled to sustain Tuesday's early gains, encountering renewed selling pressure around the 1.1200 level.
Gold continues to struggle beneath the important $4,000 resistance level as positive US real yields reduce the appeal of holding the precious metal.
Silver struggles to sustain a rebound as elevated real yields weigh on prices. With $50 lost again, the bearish outlook points toward $45.
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AUD/JPY remains in a consolidation range despite the Reserve Bank of Australia's latest interest rate increase.
Copper recovered after briefly falling below the important $6.40 support level, despite pressure from higher real yields and uncertainty surrounding AI-related demand.
EUR/USD remains under pressure despite an attempted recovery driven by hopes of renewed US-Iran diplomacy.
The British pound continues to strengthen against the Japanese yen, testing the important ¥212 resistance level.
The Australian Dollar remains caught in a broad trading range after failing to sustain its recent gains. The RBA's interest rate guidance could influence the next move, with a breakout above 0.7075 potentially attracting buyers, while a break below the 200-day EMA could expose 0.6933.
Silver prices have rebounded as falling real yields and renewed hopes for US-Iran diplomacy offer temporary support.