Forex Daily Forecast, Analysis and Prediction

Direction looks hard to predict today.

The AUD/USD pair declined sharply on Tuesday as investors reflected on the falling US Treasury yields and the latest RBA interest rate decision.

The EUR/USD pair was little changed during the American session as investors watched the US Treasury bond market ahead of the latest FOMC minutes.

Ahead of the announcement of an update to the ZEW Sentiment Index towards the largest and most important German economy in the Eurozone.

The sharp gains of the US dollar stopped due to expectations of an imminent date of raising US interest rates, which contributed to an upward rebound in the price of gold.

For three trading sessions in a row, the price of the USD/JPY currency pair is subjected to correctional selling after its strong gains recently, reaching the resistance level 111.66, its highest since March 2020.

As with other currencies, the pound is recovering against the dollar after recent strong losses from expectations of an imminent US interest rate hike.

The USD/MXN sustained its lower range yesterday and today is likely to see increased volatility as trading volumes increase.

XRP/USD has seen a swift selloff in the past couple of days and important mid-term support junctures have proven vulnerable.

After reaching a high of nearly 1.500000 on the 4th of July, ADA/USD has begun to experience slight selling pressure.

DOGE/USD remains within a rather tight range which continues to test the sentiment of speculators, but the cryptocurrency may be signaling more bearishness.

AUD has made a very strong recovery since Friday’s NFP release.

The new support level at 1.1882 looks pivotal.

The British pound rallied a bit during the trading session on Monday to reach towards the 1.35 level.

The DAX Index fell initially during the trading session on Monday but recovered nicely from the trendline that has been so important for so long.