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/MXN is bouncing toward resistance, but the broader bias still favors selling exhaustion near 17.50 as the peso carry trade remains attractive.
USD/CAD remains bullish as rising US rates support the dollar, with a break above the 200-day EMA opening a potential move toward 1.39–1.3950.
GBP/USD is pulling back toward the 200-day EMA as rising US yields support the dollar, leaving 1.33 and 1.35 as the key levels to watch.
The USD/SGD is around the 1.28085 ratio as of this writing, this as the currency pair shows a sustained ability to traverse within a value range that highlights caution.
The USD/BRL closed near 5.0475 yesterday, this as the currency pair straddles a higher near-term range, but remains within eyesight of lows achieved the past month.
NZD/USD remains under pressure as rising US yields support the dollar, with 0.58 as the key floor and 0.5950 as resistance on any rebound.
Gold continues to struggle as rising US yields pressure non-yielding assets, with bulls needing a move back above $4,600 and lower rates to regain momentum.
EUR/USD has turned bearish after breaking below the 200-day EMA, with rising US yields and Europe’s energy risks pointing toward 1.15 and 1.14.
Bitcoin remains resilient near $76,000 and the 50-day EMA despite rising US yields, with buyers waiting for a bounce toward $82,000–$84,000.
The release of UK CPI data could move the Pound to show more direction in this currency pair.
The EUR/USD exchange rate pulled back to its lowest point since April 8 this year as US bond yields continued their uptrend. It also retreated to 1.1608 ahead of the upcoming Federal Reserve and European Central Bank (ECB) minutes and European inflation report.
Bitcoin price remained under pressure this week, reaching its lowest point since May 1, down from this month’s high of $82,847. The BTC/USD pair was trading at 76,765 on Wednesday as market risks continued.
The AUD/USD exchange rate slumped to the lowest level since April 13 as the US dollar continued its recent rally. It dropped to a low of 0.7083, down sharply from the year-to-date high of 0.7278.
XRP is facing renewed selling pressure as macroeconomic risks collide with fading institutional interest and a clear technical breakdown.
USD/ZAR remains volatile as Middle East risks and energy inflation fears support the dollar, with 16.85 resistance and 16.50/16.30 as downside targets.
