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 New Zealand dollar sees a lot of weigh around its neck at the moment, as we are sitting on a massive support level.
The USD/ZAR exchange rate plunged to its lowest level since March 12, continuing a downward trend that started March 31 when it peaked at 17.23. It has dropped to 16.48 as the South African rand gained momentum.
Today's Gold Support Points: $4610 – $4560 – $4490 per ounce.
Support Levels for EUR/USD Today: 1.1510 – 1.1460 – 1.1390.
Bitcoin holds steady above the $68,000 psychological level despite recent market volatility. Spot Bitcoin ETF inflows have returned, reflecting strong institutional confidence among other BTC price recovery signals.
The USD/MXN exchange rate retreated for the second consecutive day as traders waited for the upcoming Federal Reserve minutes and US and Mexico consumer inflation reports. It retreated to a low of 17.78 on Tuesday, down from the year-to-date high of 18.20.
The NZD/USD exchange rate has slumped in the past few months and has formed a death cross pattern, pointing to more downside as concerns about the New Zealand economy remains.
The Euro rose a bit in early trading on Monday, as the EU would be mainly closed for Easter Monday. Interest rates in the USA continue to be one of the biggest drivers of action.
The US dollar has been very choppy on Monday, as rates continue to dance around important levels in the USA.
Copper finds itself in consolidation as the closure of the Straight of Hormuz will influence the supply offered.
Gold continues to defend the same area on Monday, as the $4600 level is one that has a lot of “market memory” attached to it.
