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.
The AUD/USD exchange rate pulled back slightly from the year-to-date high of 0.7160. It retreated to a low of 0.7072 as investors waited for the upcoming Australian jobs report and the Federal Reserve minutes.
After attempting to rise, Bitcoin is just continuing to consolidate below the key resistance level at $71,762 and has also fallen below the former support level at $69,323.
The USD/ZAR is near the 15.91830 ratio as of this writing on a day that will most likely remain rather quiet for the currency pair.
The GBP/USD exchange rate wavered after a report showed that the UK economy slowed in the fourth quarter of last year. It also remained in a tight range after a report showed that the US inflation pulled back in January, raising the possibility of more Federal Reserve interest rate cuts this year. It was trading at 1.3655, down from the year-to-date high of 1.3870.
The EUR/USD exchange rate remained in a tight range on Monday morning as market participants reacted to the recent macro data from the United States and their implications on the Federal Reserve. It was trading at 1.1867, a few points below this month's high of 1.1935.
The AUD/USD exchange rate pulled back for two consecutive days, moving from a high of 0.7145 this year to the current 0.7035. The pair will likely be volatile this week as the Federal Reserve and the Reserve Bank of Australia (RBA) release minutes of their last minutes.
Massive gains by the Japanese Yen on soaring investor confidence in Japan, plus a weaker US Dollar on the prospect of more interest rate cuts due in 2026, dominated the markets last week.
At the close of trading on Friday the GBP/USD was near the 1.36514 ratio, this after touching a low earlier in the day when the currency pair lurched towards the 1.35920 mark upon nervousness.
WTI Crude Oil went into this weekend near the $42.495 ratio, this as the commodity finished near its weekly low and showed an ability to test lower depths and remind traders bearish pressure has been seen mid-term.
Weekly outlook covering USD pairs, gold and silver, highlighting technical levels, trends and potential breakout opportunities.
The US dollar is testing key support at the 152-yen level and the 200-day EMA, with Friday’s CPI data likely to determine the next major move in USD/JPY.
The US dollar rebounded slightly against the Mexican peso on Thursday, but the prevailing downtrend and carry trade dynamics continue to favor the peso.
The EUR/CHF pair is holding key 0.91 support, with potential Swiss National Bank intervention looming if the franc strengthens further against the euro.
The British pound remains volatile against the US dollar ahead of key US inflation data, with critical levels at 1.3750 and 1.35 set to determine the next move.
Silver markets are attempting to stabilize around the $80 level following intense volatility, as traders navigate a potential consolidation range between $70 and $90.
