The Australian dollar has initially fallen during the trading session on Thursday but looks as if it is ready to continue grinding higher based upon the nice bounce that we have seen
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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According to the trading strategy, which has always been recommended, to sell the GBP/USD currency pair from every ascending level, the pair abandoned its highest levels during 2020 trading.
The tight trading range of the USD/INR fell apart yesterday as resistance proved vulnerable and bullish sentiment dominated.
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The Pakistani Rupee is challenging important resistance in early trading today.
After producing a slight and comfortable bearish trend for the past week, the USD/ZAR finally broke through support near 17.25000 yesterday and challenged the 17.11000 mark briefly.
Indonesia has a comparably low Covid-19 infection count with 529 confirmed cases per 1,000,000, but total testing capacity remains insufficient with just 6,991.
Mexico started to witness a gradual decrease in new daily Covid-19 infections but is distant from claiming control over the pandemic.
The silver markets have pulled back significantly during the trading session on Wednesday, after a nice recovery from the massive selloff that had happened last week.
The British pound has pulled back rather significantly during the trading session on Thursday, as we may have gotten a bit ahead of ourselves.
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The Aussie dollar initially rallied again during the trading session on Wednesday but gave back the gains in order to form a less than desirable candle.
For the fifth day in a row, the GBP/USD is moving in an upward correction, taking advantage of the dollar's decline and some cautious optimism in the markets over the resumption of Brexit talks.
While the tight trading range of the USD/INR persists, it also is presenting traders who know how to place limit orders an opportunity to take advantage of its current values.
After approaching what has proven to be rather solid resistance yesterday again, the USD/BRL did see a slightly bearish trading emerge.
It is important while trading to always remember past results do not guarantee what is going to take place in the future.
Pressure on the South African government of President Cyril Ramaphosa is mounting to push through necessary long-term reforms.