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 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.
Silver is attracting buyers near the key $70 support level as US interest rates ease, with traders eyeing a potential entry at $72.50 and a target of $79 if the 10-year yield continues to fall.
The USD/JPY pair dropped 450 pips after suspected Bank of Japan intervention near the key 156 level, with analysts leaning bullish on the dollar longer-term but advising patience before entering a position.
Gold is edging higher as US interest rates dip below 4.40%, with the $4,600 level closely watched, though Middle East tensions and bond market volatility keep traders cautious despite a long-term bullish bias.
The Euro is edging higher against the dollar after the ECB decision, with traders eyeing a key range between 1.14 and 1.1850 as risk appetite and energy concerns keep the pair largely range-bound.
Bitcoin is edging higher as US interest rates pull back and ETF inflows suggest growing institutional demand, though analysts urge caution with key resistance near $84,000 and support holding at $72,000.
Nasdaq 100 has pulled back slightly late in April, and this could lead to the beginning of May being somewhat soft.
