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.
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.
USD/MXN is holding a short-term floor near 17.10, with 17.50 as the key upside test and 17.00/16.50 as the next downside targets if support breaks.
NZD/USD faded after a brief bounce as risk-off flows and a dovish RBNZ (vs a slower-moving Fed) keep the pair biased lower while it holds below 0.60 and especially below 0.5920.
Gold is consolidating above former resistance near $5,150, with $5,000 as key downside support and $5,500 the next upside target if dip-buying continues.
Bitcoin remains range-bound with heavy resistance near $72,000 and key support at $60,000, suggesting consolidation is the best-case scenario unless bulls reclaim higher levels.
Uniswap (UNI) has staged a sharp rebound, pushing back above the $4.00 level after weeks of muted price action.
The British Pound has rallied on Wednesday, as traders could continue to see upward pressure that we are trying to send this market to the next big figure.
The Euro rose a bit in the early part of the Wednesday session, as we see the 1.18 level offers a bit of a magnet for price.
Silver was bullish again on Wednesday, as we are trying to break to the $100 level above. Short-term pullbacks could also be buying opportunities.
USD/JPY remains in a larger consolidation range, as we continue to see the interest rate differential play out in the “carry trade.”
The US dollar tried to breakout against the Canadian dollar but failed as the resistance has held so far.
