The S&P 500 remains bullish heading into June, with pullbacks toward 7,300 likely to attract buyers as momentum targets a move toward 7,700.
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 remains bullish heading into June, with the AI trade supporting further upside while geopolitical risks and overbought conditions may trigger choppy pullbacks.
Gold remains pressured by high US interest rates, but June could bring a rebound if yields ease and Middle East uncertainty starts to settle.
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EUR/CAD continues to trade sideways between 1.59 support and 1.61 resistance as energy concerns and uncertain risk appetite limit momentum.
USD/MXN is showing renewed bearish pressure after failing near 17.50, with the carry trade still favoring peso strength on rallies.
GBP/USD remains choppy but supported near the 200-day EMA, with easing US yields helping buyers target the 50-day EMA and 1.3550.
AUD/USD remains supported near the 50-day EMA and 0.7150, with RBA strength and commodity momentum keeping buyers focused on 0.7275.
Silver is trying to form a bullish hammer as lower rates support buyers, but the market remains rangebound between $70 and $80.
Natural gas is pushing toward the 200-day EMA as summer heat supports demand, but strong US supply keeps the market vulnerable to selling near resistance.
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Gold continues to attract dip buyers near the 200-day EMA, but a move above $4,600 likely needs a sustained drop in US yields.
EUR/USD is stabilizing between the 200-day and 50-day EMAs, with lower US yields supporting a bounce while the pair remains trapped in its broader range.
Copper remains bullish long term but is struggling at $6.50 resistance, with traders watching for a pullback toward the 50-day EMA before buyers return.
USD/CAD remains bullish above the 200-day EMA, with pullbacks likely to attract buyers as traders target 1.3850 and 1.3950.
GBP/USD remains under pressure as dollar safety demand weighs on risk appetite, but the pound’s higher yield may keep losses limited near 1.34 and 1.33 support.
USD/MXN is approaching the 50-day EMA near 17.41, where sellers may look to fade the rally and target 17.20 as carry trade pressure favors the peso.