Forex Daily Forecast, Analysis and Prediction

The USD/ZAR has moved slightly higher in the past day and is traversing rather intriguing short-term resistance levels.

The USD/INR continues to produce bearish momentum in the short term as it reverses from highs made one week ago.

The AUD/USD pair declined during the Asian session as the market reflected on the latest weak Australian inflation data.

The EUR/USD is in a tight range as the market focuses on the upcoming Federal Reserve interest rate decision.

Bulls need to hold the support level at $54,400.

The key resistance level at 1.3897 looks likely to be today’s pivotal point.

Lumber has exploded higher since the middle of January 2021 and its value is at an all-time record high as speculation has become feverish.

Copper continues to find buyers, and speculative positions may be getting helped by solid demand.

The past week of trading within the USD/MXN has delivered an extremely consolidated range to which traders may not be accustomed.

The recovery of the US dollar stopped gold's attempts to rebound higher, and recent attempts to break through the psychological resistance of $1800, crucial for the bullish trend, failed.

The GBP/USD pair's bullish performance continues as bulls target the 1.4000 psychological resistance, to further momentum in the Forex pair.

The USD/JPY is trying to compensate for its recent sharp losses that pushed it towards the 107.47 support level, a near-2-month low, by stabilizing around 108.35 as of this writing.

Despite the reopening of some European economies, the gains of the EUR/USD stopped at the 1.2117 resistance level before stabilizing around 1.2075 as of this writing.

ETH/USD continues to exhibit an almost serene trading landscape in which it shows an ability to climb higher.

The FTSE 100 rallied significantly during the trading session on Monday, breaking towards the 6925 handle.