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.
Gold remains trapped in a choppy range near $4,000, with weakening momentum and volume hinting at a major breakout or breakdown on the horizon.
USD/ZAR is rebounding as SARB rate cuts and US dollar strength weigh on the rand, with the pair eyeing a potential breakout toward 18.00.
USD/MXN remains range-bound as Banxico’s rate cuts aim to counteract a weakening economy, while traders await US data and Fed clarity for a potential breakout.
AUD/USD hovers near neckline support as a bearish head-and-shoulders pattern points to a potential drop to 0.6400, with traders eyeing upcoming inflation and US confidence data.
GBP/USD is under pressure near 1.3100 as weak UK data and budget uncertainty weigh on sentiment, with technicals signaling a possible drop to 1.2950.
EUR/USD remains pressured below key resistance as traders digest strong US jobs data and await Lagarde’s speech, with bearish signals pointing toward 1.1390.
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After two weeks of increasing signs of nervousness in US equity markets, we finally saw a more significant risk-off move, with the major US equities falling into technical corrections and Bitcoin losing a lot of its value within the current selloff.
Get a concise weekly overview of Bitcoin, major FX pairs, gold, and silver, highlighting key levels, trends, and risks for November 24.
USD/CHF strengthened again Thursday as the Swiss franc continues to weaken, with the 0.79 level appearing firmly defended. Interest-rate advantages, SNB rhetoric, and broader dollar strength support the view that the pair is forming a durable base for an eventual breakout.
USD/CAD firmed early Thursday before a modest pullback, with the 1.40 area acting as strong support. Interest-rate differentials, trade dynamics, and a softer Canadian outlook continue to favor upside toward the 1.4250 region.
USD/MXN attempted an early Thursday rally but remains under steady downward pressure. With resistance near 18.50, a supportive rate differential for the peso, and strong US-driven Mexican exports, the pair continues to favor a grind lower.
EUR/CHF climbed after an early dip, rebounding sharply from the 0.92 level, which appears to be defended by the Swiss. With policy stances favoring a weaker franc, a breakout above 0.9333 could signal a larger bullish move.
Bitcoin continues to weaken as the $92,500 level shifts from support to resistance. Despite brief bullish attempts, institutional selling and shifting narratives weigh on sentiment, leaving downside targets near $84,000 or even $80,000 increasingly plausible.
