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.
The EUR/USD pair rose after the US released a weak February jobs report on Friday. It jumped to 1.1616 on Monday, up from last week’s low of 1.1530. The pair will be in focus this week as the war escalates and as the US releases the latest consumer inflation report.
The AUD/USD exchange rate rose slightly to 0.7030 on Monday as traders watched the ongoing war in Iran, soaring crude oil prices, and the upcoming consumer inflation report. It has jumped from this month's low of 0.6945.
The WTI crude oil price continued its strong rally last week as the impact of the ongoing war in Iran continues. It surged to a multi-year high of $92.66 on Friday, up by 67% from its lowest level this year.
The EUR/USD exchange rate suffered its biggest drop since July last year as investors moved to the safety of the US dollar. It ended the week at 1.1615, down from the year-to-date high of 1.2088.
Full-scale war over Iran in the Middle East has pushed energies to multi-year highs and helped strengthen safe havens such as the US Dollar and Gold.
Silver, the S&P 500, Bitcoin and several FX pairs are trading near important technical levels. Dollar strength and volatility are shaping how markets react across asset classes.
USD/CHF is slowly turning higher as the US dollar benefits from yield support, with dip-buying favored unless the pair breaks back below 0.76.
Silver continues to be very noisy on Thursday, as traders continue to see the 50-day EMA indicator, and more importantly, the $80 level.
NZD/USD is under pressure in a risk-off market, with the 200-day EMA and 0.58 as key downside levels while 0.60 caps any recovery attempts.
GBP/JPY is stuck in a volatile range around 210, with 208 as downside support and 212 as the key breakout level for a move toward 215.
AUD/USD remains volatile, with the 0.69–0.6930 zone acting as key support and 0.7150 the next upside target if buyers regain control.
USD/JPY recovered strongly after Thursday’s dip, with 156 as near-term support and 158–160 as the key resistance zone for the next upside move.
The euro remains under pressure against the US dollar, with the 1.15–1.16 area acting as key support and a break below it potentially opening a deeper move toward 1.11.
The British pound slid against the US dollar on Thursday, with 1.3250 acting as crucial support and a breakdown there potentially opening the door to 1.30.
Bitcoin eased slightly on Thursday but still looks constructive, with a rounding-bottom setup forming below the 50-day EMA and major support holding in the $60,000–$64,000 zone.
