The value of the dollar fell through most of 2023 as low inflation allowed the Federal Reserve to ease into the rate-raising cycle, finally allowing it to keep interest rates unchanged in June.
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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For three trading sessions in a row, the price of the GBP/USD currency pair is moving in the midst of a rebound to the upside.
The US dollar was negatively affected by yesterday's announcement by the US Federal Reserve, which helped the gold price to rebound upward towards the $1982 resistance level.
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BTC/USD is lingering slightly above the 29,000.00 level and behavioral sentiment is showing signs of being fragile in the short-term.
My previous BTC/USD signal last Tuesday was not triggered as none of the key support or resistance levels were reached that day.
The GBP/USD exchange rate rose in the overnight session as investors reacted to the latest interest rate decision by the Federal Reserve.
The EUR/USD exchange rate rose slightly after the Fed delivered a neutral interest rate decision on Wednesday.
The AUD/USD continued soaring after signs of falling Australian inflation and after the Federal Reserve decision.
The WTI Crude Oil market experienced a slight retreat during Wednesday's trading session, which could be attributed to a potential overextension in the market.
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The euro displayed a mild rally during Wednesday's trading session as market participants eagerly awaited the Federal Reserve's announcement later in the day.
During Wednesday's trading session, the British pound experienced a slight pullback against the Japanese yen, suggesting a potential consolidation phase.
During Wednesday's trading session, the US dollar experienced a slight decline, largely due to market anticipation of the Federal Reserve's upcoming interest rate decision.
During Wednesday's trading session, gold markets experienced a modest rally, driven by market anticipation of the upcoming Federal Reserve statement
During Wednesday's trading session, silver experienced a slight pullback, but it found robust support just below.
During Wednesday's trading session, the S&P 500 experienced a slight pullback as investors awaited clarity on the Federal Reserve's impending decisions later in the day.