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 USD/MXN pair continues to see a lot of support just below current levels, but in the end, this remains “fade the rally” at this point.
The USD/ZAR exchange rate rose on Monday morning as financial markets opened following the weekend developments in Iran and the Middle East in general. The pair was trading at 16.9, up from the year-to-date low of 15.6.
The USD/MXN exchange rate wavered on Monday as the recent downward trend took a breather. The pair was trading at 17.21 on Monday, down substantially from last year’s high of 21.30. This retreat has coincided with the broader gains in emerging market currencies.
The GBP/USD exchange rate dropped as investors moved to safety amid the ongoing crisis in the Middle East that has pushed crude oil prices higher. It retreated to 1.33550, down substantially from the year-to-date high of 1.3866.
The BTC/USD pair wavered as geopolitical concerns escalated. Bitcoin price was trading at $66,915 on Monday morning, higher than the year-to-date low of $66,000 and much lower than the all-time high of $126,300.
The AUD/USD exchange rate was highly volatile on Monday morning as market participants reacted to the ongoing developments in the Middle East, where the war between Iran and the US and Iran escalated. The pair was trading at 0.7050.
The impact of full-scale war involving Iran will be the dominant theme as market open following the surprisingly early opening of hostilities by Israel and the USA, with the semi-closure of Hormuz and increased OPEC production key factors.
EUR/USD holds near recent lows after firm US PPI data and renewed Iran-Israel tensions. Markets weigh Fed policy outlook, Eurozone inflation signals, and key technical levels.
WTI crude advances after US and Israeli strikes on Iran, with attention shifting to supply risks around the Strait of Hormuz as the weekly technical structure improves.
Weekly outlook covering USD pairs, Bitcoin, DAX and Nasdaq with major support, resistance levels and breakout trade setups.
USD/CAD is struggling to clear the 1.37–1.3750 resistance zone, with a breakout targeting the 200-day EMA near 1.3832 while 1.3550 and 1.35 mark key support below.
USD/JPY bounced after an early dip, with the 50-day EMA supporting buyers. A break above 158 targets 164 on a W-pattern, while the 200-day EMA remains the key floor.
EUR/USD is stuck in a tight range around 1.18, with 1.1850 as the upside trigger toward 1.20 and last week’s lows as the downside trigger toward 1.16.
GBP/USD is stuck in a choppy 1.35 pivot area, with stronger US fundamentals and potential BoE easing favoring a “fade-the-rally” bias over a clean breakout.
AUD/USD remains biased higher while consolidating around 0.71, with 0.70–0.69 as key support and 0.73 as the next target on a clean breakout.
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