Forex Daily Forecast, Analysis and Prediction

NZD/USD reverses higher after RBNZ’s rate cut, testing 0.57300 resistance as traders assess potential for further gains amid ongoing volatility.

AUD/USD extends gains after the RBA’s rate cut, with an inverse head and shoulders pattern signaling a move toward 0.6450 amid strong labor market expectations.

Bitcoin falls below $94K amid Fed hawkishness and trade concerns, with key support at $90K and a potential rebound targeting $96K.

EUR/USD pulls back from key resistance at 1.0510 ahead of FOMC minutes, with traders watching for a breakout above 1.0506 or a move lower toward 1.0215.

US Dollar remains relatively weak while the British Pound is one of the stronger major currencies after higher than expected UK inflation data was released earlier today.

USD/ZAR hovers near 18.25 support, with potential for a breakout above 18.50 or a decline below the 200-day EMA toward 17.65 amid market uncertainty.

CHF/JPY hovers near 168 support, with a break lower targeting 166, while a move above 170 could signal broader yen weakness in risk-on conditions.

GBP/JPY stabilizes near 190 support, with traders eyeing a breakout above key moving averages to target 195 amid ongoing yen strength and rate differentials.

CAD/CHF gains strength near 0.64 resistance, with traders watching for a breakout that could push the pair toward 0.66 amid Swiss franc weakness.

EUR/USD retreats from 1.05 resistance as the US dollar strengthens, with traders watching for a potential breakdown below the 50-day EMA.

Concerns over a widening global trade war continue to support gold prices, which are currently hovering around the resistance level of $2,915 per ounce.

For two consecutive days, the EUR/USD currency pair has resumed trading within the broader downward trend, stabilizing around the support level of 1.0452

The USD/SGD has been able to sustain a lower realm since last Friday, while a slight climb higher has been seen this morning it does seem that a more tranquil mindset has begun to shift attitudes.

The Australian Dollar has remained firm against the US Dollar despite the RBA’ 0.25% rate cut which was applied earlier today, as the Bank pushed back against expectations of several further cuts in 2025.

The USD/BRL closed near the 5.7130 ratio after yesterday’s trading, but volumes in the Brazilian Real were low due to the U.S holiday which affected global Forex conditions.