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.
USD/CHF continues to climb and is now threatening the 0.83 level, supported by a wide interest rate differential with the Swiss National Bank holding rates at 0%. The bias stays bullish, with dips viewed as buying opportunities.
CAD/JPY is testing key ¥110 support after Finance Minister Katayama warned Japan could intervene again, while softer oil prices weighed on the Canadian dollar. A break below ¥110 opens the way toward ¥106. The current signal is a buy with a stop at 109.90 and a target of 113.
EUR/USD remains in a long-term bearish trend as a strong US Dollar weighs on the pair. A daily close below 1.1375 could signal a short entry.
GBP/USD exchange rate remains under pressure as tensions between the US and Iran escalated during the weekend and as traders waited for important macro data. It slipped to a low of 1.3206, its lowest level since June 29, and much lower than the August high of 1.3677.
Bitcoin's price remains above the key support level of $84,000 as demand for the coin continues despite rising bond yields. BTC/USD pair was trading at 84,380, a few points below this month’s high of 87,270. It remains much higher than the July low of 57,800.
The AUD/USD exchange rate dropped for three consecutive weeks as traders waited for the upcoming Reserve Bank of Australia (RBA) interest rate decision. It dropped to 0.7023, its lowest level since August 3, and is down by nearly 3% from its highest level this month.
The market remains caught between hope and doubt. Reports of talks can move prices quickly, yet the details remain uncertain and are often disputed. That leaves oil traders trying to assess developments in real time.
The crypto market experienced another broad advance this past week, with gains spread across most large assets even as the pace varied sharply.
That is the uncomfortable reality for this market right now. It is not simply a question of charts or interest rates. The EUR/USD currency pair is caught between an energy story that could become much more serious for Europe and a U.S. dollar.
Dollar strength, oil-market risk and major technical levels are shaping the backdrop for currencies, commodities, equities and crypto markets.
Major markets are showing mixed price action as interest rates, industrial demand, risk appetite and technical levels shape the current market landscape.
The important point is that gold has been able to rally despite elevated interest rates in the United States. Normally, that environment can work against gold, as higher yields raise the opportunity cost of holding an asset that does not offer income.
This currency pair continued its recent side in early trade on Friday, pressured by dollar strength driven by soaring Treasury yields and increasing bets of further interest rate hikes.
CAD/CHF remains bullish above key 0.58 support, with 0.59 the next major target. The Canada-Swiss rate differential continues to favor the longer-term upside.
AUD/CHF remains supported near 0.58 after the SNB held rates at 0%. A break above 0.5850 could target 0.5900, while 0.58 remains the key support level.
