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.
The price has been making higher lows for almost two weeks, strengthening the bullish case.
The GBP/USD exchange rate was flat on Tuesday, a few pips above this month's low of 1.3220. It will be in the spotlight in the next few days as the UK publishes its inflation report.
Bitcoin prices rebounded and moved above the key resistance level at $70,000 as a risk-on sentiment prevailed in the market. The BTC/USD pair jumped to 71,000, up from the year-to-date low of 60,000.
The AUD/USD exchange rate held steady above the key resistance level at 0.7000 on Tuesday as the US dollar pulled back after Donald Trump's reversal on Iranian power attacks.
Bears are back in control of Bitcoin, as it moves lower held by a descending price channel.
The USD/ZAR is valued around the 17. 23500 realm as of this morning with an additional dose of volatility being seen early, this as financial institutions try to gauge their nervous outlooks and remain shaky.
In early trading this morning the USD/MXN finds itself hovering near the 18.00000 level, this as the currency pair traverses value it saw in December and January, while financial institutions remain cautious.
Breaking below the $70 level in the silver market could be a major problem for the bulls.
The rates in America continue to be a main driver of gold weakness, as the bulk of traders try to simply play the “safety trade.”
The $100 level above continues to be a major resistance barrier for traders to pay close attention to.
Sometimes it is about what a market won't do more than anything else. The fact that we haven’t fallen apart is somewhat surprising.
The 1.16 level continues to see a bit of a ceiling being formed in the pair, as we are seeing the dollar strengthen overall.
The Bitcoin market continues to see a lot of volatility at this point in time, as rates in the US continue to strengthen, and this makes riskier assets a bit difficult to hang onto.
The British pound fell hard on Friday, as traders continue to see a lot of fear in the markets, using the Swiss franc as a safety asset.
The US dollar has dropped slightly against the Loonie on Friday, as we see a lot of noise, due to interest rates rising in the USA, and the oil markets rising simultaneously.
