Forex Daily Forecast, Analysis and Prediction

EUR/USD extended its decline, sliding to its lowest level since June as bond market stress in both the US and Europe intensified. The pair has now fallen for four consecutive weeks and sits 6.3% below its high for the year.

Bitcoin's price has pulled back over the past week as momentum faded. After climbing to $87,270, it gave up those gains and now trades at $83,473, as US bond yields surged and investors began booking profits. Still, the coin has formed a bullish flag pattern.

The AUD/USD pair slumped to 0.6985, its lowest level since July 30. The decline has been steep since the pair peaked at 0.7238 earlier this month, and it continued even after the Reserve Bank of Australia (RBA) delivered its fourth interest rate hike.

After a sharp selloff, Gold is trying to stabilize near an area that matters on the chart. That alone can attract buyers, particularly when the selling has become somewhat stretched.

Right now, the market is trying to weigh two forces that are closely connected. The interest-rate differential continues to favor the United States, while the energy situation remains a potential problem for Europe.

Silver drops nearly 5% as rising US rates pressure XAG/USD. The $60 level is key support, with a breakdown potentially exposing $56.

GBP/JPY rebounds from ¥207 support, with ¥210 the key breakout level and ¥212 the upside target as rate differentials favor the pound.

CAD/CHF remains supported by stronger oil prices and favorable rate differentials, with 0.58 acting as a floor and 0.59 the next upside target.

AUD/JPY trades near ¥110 ahead of the RBA decision. A hawkish signal could target ¥112, while a breakout may open the way toward ¥115.

USD/JPY tests ¥158 resistance as rising US yields favor the dollar. A breakout could target ¥160, while ¥155 remains key support.

Cautiousness has developed in global assets and this is being expressed in the USD/ZAR just like other major currency pairs as USD centric strength has taken hold. Large players influencing the USD/ZAR are likely wondering what will develop in the mid-term...

GBP/USD remains bearish as a strong US dollar pushes the pair toward 1.3200 support. A break lower could expose the 1.3140 level.

USD/CHF maintains its bullish momentum as rate differentials favor the dollar, with 0.82 providing support and 0.84 the next key target.

EUR/USD exchange rate has continued its strong downward trend and is hovering near its lowest level since June 24 this year. It retreated to 1.1367 as traders waited for the upcoming US macro numbers, including jobs, inflation, and consumer confidence.

Bitcoin price remained under pressure as the recent momentum faded amid the rising bond yields. BTC/USD pair dropped modestly to 83,450 from this month’s high of 87,480, with focus shifting to the upcoming US macro data.