The euro initially rallied during the trading session on Tuesday but gave back the gains as we got close to the 1.2175 handle.
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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The British pound has rallied again during the trading session on Tuesday to reach the top of the uptrending channel.
The GBP/USD price continued to rally during the American and Asian sessions as traders reflected on the latest UK jobs and a testimony by Jerome Powell.
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The EUR/USD is in a tight range ahead of the second reading of the German fourth-quarter GDP and US new home sales numbers.
The AUD/USD is loitering near its highest level since February 2018 after the relatively strong wage growth data from Australia.
The BTC/USD bounced back in the overnight session as investors rushed to buy the dips.
The ETH/USD price dropped sharply today, accelerating the cryptocurrency sell-off that started yesterday.
Gold had a strong bullish start this week as it jumped to the $1812 level before settling around $1809 at the beginning of trading on Tuesday.
The easing of UK coronavirus restrictions caused the GBP/USD to correct upwards, its gains reaching the 1.4086 resistance level, where it settled around as of this writing.
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Ahead of testimony by Federal Reserve Governor Jerome Powell later today, the USD/JPY experienced strong bearish momentum.
Global risk appetite prompted the EUR/USD currency pair to correct upwards, reaching the 1.2170 resistance level before settling around the 1.2155 level at the beginning of Tuesday's trading.
The USD/BRL has produced a rather consistent short-term incremental trend upwards as the Forex pair demonstrates bullish sentiment.
The USD/ZAR has reversed higher after challenging long-term support only one day ago and the higher values may be an opportunity for traders.
The USD/INR has maintained its rather aggressive bearish trend, and what should intrigue speculators is the absence of volatile reversals higher.
The USD/SGD continues to confront important support levels, but the battle to maintain bearish momentum has not been easy.