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 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.
Dogecoin (DOGE) has shown renewed activity over the past few days, climbing back toward the psychologically important $0.10 level after spending weeks trading in a narrow range.
The Bitcoin market looks as if it is trying to turn things around, as the world is trying to find value here.
In the GBP/CHF pair, you get paid to hold long positions, while the SNB continues to be a presence. Can it turn things around?
