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 euro initially fell against the yen on Friday but has turned things around to show signs of stability. At this point, the markets are still looking bullish despite the intervention.
Natural gas tried to rally on Friday but continued to see a ceiling above.
NVIDIA fell slightly at the beginning of the Friday session but continues to find buyers below to offer hope for a continuation of the longer-term uptrend.
The US dollar has been slightly negative against the Swiss franc again on Friday, as there are a lot of concerns out there with the Middle East headlines, and interest rates.
The GBP/USD exchange rate continued rising, reaching its highest level since February 11 this year. It rose to 1.3652, up sharply from the year-to-date low of 1.3162. This rally happened as a divergence between the Federal Reserve and the Bank of England emerged.
The EUR/USD pair has pulled back in the past few days, moving from last month's high of 1.1855 to the current 1.1720. This retreat happened after the recent Federal Reserve and the European Central Bank (ECB) interest rate decisions.
The AUD/USD exchange rate continued its strong upward trend, reaching its highest point since May 2022. It has risen in the past five consecutive weeks, helped by the ongoing divergence between the Federal Reserve and the Reserve Bank of Australia (RBA).
As the prospects of a peace deal between the USA and Iran fade on the reluctance of both sides to adjust red lines, energies rise, but US stocks are not deterred from hitting new highs, while the Forex market finally sees a Bank of Japan intervention to prop up the Yen.
EUR/USD trades within a narrow range as Fed and ECB policy signals diverge, with price action holding near key resistance levels.
WTI crude oil reflects geopolitical tension and shifting supply flows, with price action stabilizing above key technical levels.
Nasdaq, Bitcoin and major FX pairs reflect a volatile environment, with defined levels and mixed signals between momentum and hesitation.
USD/CHF dipped sharply before bouncing off the 0.7825 support level, with analysts favoring long positions on dips as the wide interest rate differential and an eventual Swiss franc weakening support a bullish longer-term outlook.
EUR/AUD extends its downtrend as RBA rate hikes, commodity strength, and Europe's energy concerns keep selling pressure elevated, with traders eyeing rallies to fade and a critical breakdown level at 1.61.
USD/CAD remains range-bound between 1.35 and 1.3750 as easing US 10-year yields weigh on the dollar, with crude oil and tight rate differentials keeping the pair in a consolidation pattern short-term.
The British pound rallied above 1.35 after the Bank of England meeting, with bulls targeting the 1.36–1.37 range, though US bond yields and Middle East geopolitical tensions are likely to keep gains in check short-term.
