Spurts of volatility have been exhibited within the USD/INR the past day as the Forex pair challenged important support yesterday, but then began to experience incremental reversals higher.
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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Despite the weakness of the US dollar, gold prices closed sharply lower yesterday, reaching the $1790 support level before settling around the $1796 level at the beginning of trading on Wednesday.
The GBP/USD's strong upward correction path resulted in the pair testing the 1.3952 resistance, its highest in more than three years, before settling around 1.3880.
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After a long wait, the USD/JPY jumped to the 106.07 resistance level amid an upward correction path after a clear abandonment of the yen as a safe haven.
As traders returned to the markets after the American holiday, the EUR/USD continued to correct to the upside, but its gains stopped at the 1.2170 resistance level, the highest in two weeks.
The euro initially tried to rally during the trading session on Tuesday to reach towards the 1.2150 level before pulling back again.
The British pound rallied initially during the trading session on Tuesday but pulled back from the area just above the 1.39 handle.
The German index rallied initially during the trading session on Tuesday but turned around to show signs of exhaustion yet again.
The NASDAQ 100 initially tried to rally during the trading session on Tuesday but found enough resistance to turn things around and fall after bond yields in the 10-year note reached the 1.30% level.
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The S&P 500 initially tried to rally during the trading session on Tuesday but gave back the gains as we can see a lot of bearish pressure above, with sellers having been very aggressive.
Gold markets crashed into the $1800 level and below it during the trading session on Tuesday, as the interest rates in the 10-year note climbed in America.
The Australian dollar fluctuated during the trading session on Tuesday as it tries to break above the 0.78 handle.
Bitcoin markets have been all over the place during the trading session on Tuesday as we can continue to see quite a bit of volatility in the market.
The US dollar initially pulled back a bit against the Canadian dollar during trading on Tuesday but then turned around to bounce rather significantly.
The West Texas Intermediate Crude Oil market gapped higher to kick off the trading session on Tuesday, but started to show a lot of bullish pressure during the day.