Forex Daily Forecast, Analysis and Prediction

The AUD/USD rose to the highest level since July as investors and analysts cast doubt on the guidance offered by the Reserve Bank of Australia (RBA).

The EUR/USD price retreated as investors reflected on the relatively weak US housing starts and building permits data.

As of this writing, the USD/JPY is near the 114.000 mark and has produced a slight selloff after retesting long-term highs yesterday.

The USD/PKR continues to see new record highs as bullish momentum surges and yesterday’s price velocity is showing signs of speculation.

The USD/INR is below the 75.0000 level in early trading today, after not being able to sustain its higher price range yesterday and seeing some selling develop.

BTC/USD speculators are in the midst of an exciting flurry of activity as they watch the cryptocurrency trade within sight of all time record highs.

The USD/JPY's recent rebound gains came to a halt at the 114.46 resistance, a 3-year high, and settled around 114.10 as of this writing.

Gold retreated yesterday towards the $1760 support and swiftly corrected upwards today, settling around $1779 as of this writing.

The GBP/USD settled higher around the 1.3780 resistance level as of this writing, thanks to a halting of the US dollar’s ​​gains, expectations of the Bank of England tightening policy and dissipating fears about the energy crisis.

The EUR/USD has been hovering around the 1.1600 resistance the last 4 sessions in an attempt to correct after its recent sharp losses.

The Aussie is today’s strongest currency.

The US dollar is finally showing some weakness.

The S&P 500 pulled back a bit on Monday to show signs of weakness, but then turned around to show signs of life again.

The NASDAQ 100 initially pulled back on Monday but found enough support at the 50-day EMA to turn around and jump.

The FTSE 100 pulled back a bit on Monday but has also shown a bit of support underneath to turn things around.