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 AUD/USD exchange rate rose by 0.60% on Wednesday morning as market participants embraced a risk-on sentiment amid hopes that the US-Iran war was about to end. It rose to 0.6688, up substantially from this week's low of 0.6830.
The USD/JPY is trading near values seen in January as it traverses as of this writing near the 159.520 vicinity, but this time around financial institutions do not seem as afraid about potential BoJ interventions.
BTC/USD continues to remain in limbo in many respects, this as it hovers near the $67,000.00 level and shows little in the way of being able to resume momentum upwards.
The EUR/USD is trading near the 1.14620 mark as of this writing, this as the month of March concludes with the currency pair mired in a rather dramatic bearish trajectory.
As of this writing the USD/ZAR remains within the upper realms of its value, this as the currency pair continues to suffer from nervous sentiment via USD centric strength as the Iranian war flares.
The bearish move driven by the Middle East war continues, but there are initial signs that the price is finding support at $0.6834 which could lead to a bullish breakout above the channel.
The US dollar has rallied against its northern neighbor on Monday, as the rate differential continues to favor this move. However, are we a bit overdone at the moment?
The Euro initially tried to bounce back a bit on Monday, as we continue to see rates in the United States cause havoc. With this, we are looking at a “fade the rally” type of market.
Interest rates in America continue to be a major issue for metals markets, as gold fails to break above $4600 early on Monday.
The Nasdaq 100 was very noisy in the early part of Monday, as the markets continued to move on the interest rates in the US. The war headlines continue to move the markets, just as they have on Monday.
Silver continues to see a lot of reaction to the rates in the US, as they are still far too strong for metals to do well, and silver itself is very sensitive to this issue at the moment.
The GBP/USD exchange rate continued its strong downward trend this week, reaching its lowest level since November 28 last year. It has slumped to 1.3180, down by over 5% from its highest point this year.
The EUR/USD exchange rate continued its recent downtrend on Tuesday as the US-Iran war continued and energy prices jumped. It dropped to 1.1460, its lowest level since March 19, and by 5.25% below the highest point this year.
Bitcoin price remained in a tight range below the important support level at $70,000 as fear spread across the market. The BTC/USD pair was trading at 66,800, down sharply from the year-to-date high of 126,300.
Bitcoin is trying to rebound after a long period of consolidation. This is a market that remains cautious, but stable.
