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.
After falling strongly on renewed USD strength and GBP weakness, the price found support at a round number and looks like it will spend Monday ranging between round numbers.
The USD/ZAR began its trading today with another climb and challenged the 16.78000 vicinity, this before seeing some selling and the currency pair is now residing around 16.67000 with a wide spread.
USD/MXN is bouncing on higher US yields, but the broader bias still favors selling rallies while the peso carry trade remains attractive.
USD/JPY remains bullish as rising US yields support the dollar, with dips toward 158 viewed as buying opportunities targeting 160.
Gold remains under pressure as rising US yields weigh on precious metals, with $4,500 now the key support level to watch.
EUR/USD is under pressure as rising yields and energy-related risks weigh on the euro, with rallies likely to face selling unless the pair reclaims momentum.
WTI crude oil remains headline-driven and volatile, with $100 acting as short-term resistance and the 50-day EMA near $93.50 offering key support.
Bitcoin is struggling at the 200-day EMA as higher US yields weigh on risk appetite, but strong ETF inflows keep the broader bullish recovery alive.
The EUR/USD pair continued its strong bearish breakout this month as consumer and inflation continues rising. It dropped to 1.1625, its lowest level since April 8, as traders wait for the upcoming Federal Reserve minutes of the last meeting.
Bitcoin price pulled back below the important support level of $80,000 as it faced some substantial tailwinds. The BTC/USD pair dropped to 78,176, its lowest point since May 1 and much lower than this month’s high of 82,553.
The AUD/USD pair continued its strong downward trend last week, reaching its lowest point since May 5. It dropped to 0.7150, much lower than the year-to-date high of 0.7278. This retreat may continue ahead of the upcoming Federal Reserve minutes and the Australian jobs report.
Highs for the EUR/USD last week occurred on Monday when the 1.17890 vicinity was traversed, but as the week moved on negative momentum overtook the currency pair, and it went into this weekend near lows around the 1.16250 ratio.
Markets saw a firm resumption of risk-off sentiment towards the end of last week on rising yields, an advancing US Dollar, and the prospect of imminent renewed military clashes between the USA and Iran.
WTI Crude Oil futures went into this weekend above the $100.00 realm, finishing around the $100.650 ratio and early trading on Monday is likely to remain within nervous highs.
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