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.
USD/CAD remains supported by rising US yields, with 1.3750 as the key resistance level and 1.37/1.3550 as downside support.
EUR/USD remains bearish as rising US yields and reversal patterns pressure the pair, with 1.1500 now the key downside target.
Bitcoin remains under bearish pressure after breaking below a rising wedge, with ETF outflows and higher bond yields supporting a possible move toward $70,000.
AUD/USD remains bullish despite a short-term pullback, with hawkish RBA minutes and an inverted head-and-shoulders pattern supporting a move toward 0.7250.
GBP/USD remains under pressure as US yields support the dollar, but the pair may try to build a base if rates begin to ease.
The USD/MXN is around the 17.30100 realm with fast results being seen on trading screens, this as the currency pair has remained moderately calm as the broad Forex market shows agitation.
After falling strongly on renewed USD strength and GBP weakness, the price found support at a round number and looks like it will spend Monday ranging between round numbers.
The USD/ZAR began its trading today with another climb and challenged the 16.78000 vicinity, this before seeing some selling and the currency pair is now residing around 16.67000 with a wide spread.
USD/MXN is bouncing on higher US yields, but the broader bias still favors selling rallies while the peso carry trade remains attractive.
USD/JPY remains bullish as rising US yields support the dollar, with dips toward 158 viewed as buying opportunities targeting 160.
Gold remains under pressure as rising US yields weigh on precious metals, with $4,500 now the key support level to watch.
EUR/USD is under pressure as rising yields and energy-related risks weigh on the euro, with rallies likely to face selling unless the pair reclaims momentum.
WTI crude oil remains headline-driven and volatile, with $100 acting as short-term resistance and the 50-day EMA near $93.50 offering key support.
Bitcoin is struggling at the 200-day EMA as higher US yields weigh on risk appetite, but strong ETF inflows keep the broader bullish recovery alive.
The EUR/USD pair continued its strong bearish breakout this month as consumer and inflation continues rising. It dropped to 1.1625, its lowest level since April 8, as traders wait for the upcoming Federal Reserve minutes of the last meeting.
