Lesetja Kganyago, the Governor of the South African Reserve Bank (SARB), reiterated the central bank would avoid monetary policies that failed throughout history.
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 British pound pulled back a bit during the trading session on Tuesday, reaching down towards the crucial 1.30 level.
The Australian dollar has rallied a bit during the trading session on Tuesday as we continue to grind higher.
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The silver market has shot straight up in the air during the trading session on Tuesday as we continue to see bullish pressure in the precious metals sector.
The pair rebounded to the threshold of the 1.3000 support after its gains last week, which were topped in the testing of the 1.3170 resistance, it’s highest since the beginning of last March’s trading.
The USD/MXN busted through resistance levels again on Monday, but as of this morning the trading range has developed a narrow band and some slight selling has emerged.
The short term has likely proven destructive for many speculators within the South African Rand.
If you enjoy speculating on unique forex pairs and trying to gauge political intrigues, the USD/PKR may be your best choice.
The Singapore Dollar is a solid barometer of speculative sentiment in the global forex markets.
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GBP/USD: 1.3000 psychological resistance awaits Brexit developments
After the Banco Central do Brasil issued a mid-June 2020 GDP forecast calling for a contraction of 6.50%, five consecutive weeks saw upgrades that improved the outlook to a decrease of 5.66%.
The Australian dollar has pulled back a bit during the trading session on Monday to kick off the week but seems to have plenty of support near the 0.71 level.
The British pound initially fell on Monday looking towards the 1.30 level, an area that I have mentioned previously as being important.
Silver markets have tried to rally a bit during the trading session on Monday but gave back quite a bit of the gains to end up forming a bit of an exhaustive looking candlestick.