In Wednesday's trading session, the US dollar took a brief step back before making a strong rebound, hinting at a resurgence in its momentum.
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.
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The S&P 500 Index currently stands just below a critical resistance level, in close proximity to the 50-Day Exponential Moving Average.
Gold has shown remarkable resilience in the face of surprising PPI numbers from the United States, which came in double what was expected.
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The euro dollar currency pair experienced a sudden surge on Wednesday, only to give back some of its gains as the PPI numbers delivered a surprise.
The crude oil markets witnessed a modest retreat during Wednesday, with both WTI Crude Oil and Brent hovering near their respective 50-Day EMA.
The US dollar has lost over 1% against the South African Rand during the trading session on Wednesday, as we have seen a call being of interest rates.
Silver saw a modest rally during Wednesday's trading session, despite hotter-than-expected Producer Price Index (PPI) figures, highlighting the indifference of Chicago futures traders to the data.
In Wednesday's trading session, natural gas markets exhibited a minor pullback, despite being comfortably above the 200-Day Exponential Moving Average.
The NASDAQ 100 initially rallied during the trading session on Wednesday, despite the fact that PPI came out at almost twice what was anticipated.
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The AUD/USD had a turbulent ride during Wednesday's trading session, reflecting the ongoing market uncertainty.
Support at $26,534 held precisely.
The GBP/USD rally continued on Thursday morning ahead of the closely watched UK GDP and US consumer price index (CPI) data.
The EUR/USD pair was flat on Thursday morning after the Fed published minutes of the September meeting.
The AUD/USD exchange rate pulled back slightly after the latest Federal Reserve minutes.
Silver displayed a hint of hesitation during Tuesday's trading session as the United States bond markets reopened, influencing a wide array of markets, notably due to concerns over inflation.