The US dollar weakened further against the South African rand on Wednesday, breaking support near 16.30 amid gold strength and favorable rate differentials.
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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 NASDAQ 100 turned lower on Wednesday, falling below the key 25,000 level as geopolitical tensions with Europe and risk-off sentiment weigh on tech stocks.
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The EUR/AUD pair remains under pressure as diverging central bank policies and a bearish technical setup suggest a potential breakdown below key support.
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Bitcoin is under pressure as global risk appetite weakens, with the cryptocurrency eyeing key support at $84,000 amid macroeconomic and geopolitical headwinds.
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Trump comments on Greenland and Iran calm market volatility.
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Tesla stock finds support at $420 despite global risk-off sentiment, with bullish potential emerging if price breaks above the $430 resistance level.
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The S&P 500 briefly rallied before pulling back on Wednesday as traders digested President Trump’s Davos speech, with key support holding at the 6800 level.
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Silver prices pulled back from the $95 level on Wednesday as overbought conditions and market caution ahead of the BoJ decision sparked near-term selling pressure.
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The USD/JPY pair remains volatile near 158 ahead of the Bank of Japan's rate decision, with interest rate differentials and bond market stress in focus.
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AUD/USD surged to its highest level since September after strong Australian jobs data fueled RBA rate hike bets, with bulls now targeting 0.6835.
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BTC/USD rose above $90K after Trump suspended NATO tariffs and backed crypto legislation, though technicals warn of a possible pullback toward $85K.
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The GBP/USD pair is poised for a bullish breakout above 1.3430 as strong UK inflation data and easing US-UK trade tensions fuel upside momentum.
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The EUR/USD pair is consolidating near 1.1730 amid renewed U.S.–EU tariff tensions, with traders eyeing a break above 1.1800 or a drop toward 1.1650.
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Gold prices have surged to record highs near $4,800 per ounce, driven by safe-haven demand amid U.S. - EU tensions over Greenland and weakening Dollar confidence.
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The USD/SGD pair fell sharply to test recent lows near 1.28375 as global risk sentiment deteriorates, with Trump’s Davos speech in focus.
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