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.
Forex Technical Analysis
Forex Technical Analysis
Since early September, the EUR-CHF had been in a substantial rally. It took this pair from the all time low of 1.2765 to a high 1.3835, which gave an appearance of a major reversal. However, the price failed to reach the key resistance of 1.3925.
In spite of the all the coverage surrounding the Japanese Yen, the USD-JPY has become one of the least attractive currency pairs to trade. I
Unlike many other currency pairs, the USD-CAD has spent most of this year in a relatively tight trading range.
While the Bank of Japan threatens another intervention, the Yen keeps getting stronger. Not against all currencies, though.
Recently, there have been some questions about the uptrend in the GBP-USD.
The Australian Dollar appreciated substantially on Tuesday, after the Reserve Bank of Australia raised interest rates to 4.75%
The major resistance at the 1.6050 area has again held very well keeping cable into the larger range and not allowing a potential new high.
While many currency pairs have been trading in ranges or even erratically lately, the NZD-CHF staged a convincing rally from 0.7187 to 0.7645.
One of the currency pairs that experienced a lower volatility recently is the GBP-CAD.
The Swiss Franc, like many other currencies, has appreciated substantially against the US Dollar in recent months.
After reaching the parity with the USD, the Australian Dollar retreated to 0.9670. Another attempt at the all time high failed, when the move stalled at 0.9973.
Earlier this month, the GBP-CHF pair set a new all time low at 1.5091.
From the looks at the hourly chart for today it still looks like there will be support in the EUR/USD pair at around the 1.3857 area. There is already a double bottom there and if it can continue to hold, the bull move might not be over.
Like many other currencies, the New Zealand Dollar has appreciated strongly against the US Dollar in 2010. It rallied from 0.6560 in May to 0.7640 in recent days.
At the beginning of September, the EUR-CHF made an all time low of one 1.2765. Since then, it had been in a steady, if slow at times, uptrend, reaching as high as 1.3532 on Thursday.