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.
A state of cautious anticipation for the reaction from the most important event of this week, which is the European Central Bank’s announcement of its monetary policy at a time when the Eurozone needs historic measures to revive the economy from the COVID-19 effects.
For the second day in a row, the price of gold moves higher, bouncing back to the $1951 resistance.
The USD recovered, and the fear of failure of negotiations pushed the price of the GBP/USD to move downwards towards the 1.2885 support, its lowest level in nearly a month and a half before the pair stabilized around the 1.3020 level at the time of writing.
The USD/JPY pair is still suffering from the bears' control over performance despite the dollar's recovery against the rest of other major currencies.
The USD/BRL has consolidated further the past day of trading and appears ready for more tests of short term support and resistance levels which have produced a tight range.
The USD/MXN broke through the 21.50000 support level yesterday and it set off another bearish leg lower.
The USD/INR is testing short term support in early trading as its bearish trend remains evident via mid-term technical charts.
The USD/PKR is not a widely traded forex pair.
AUD/USD: Yet resistance at 0.7300 looks strong
Sweden never imposed a Covid-19 related nationwide lockdown and kept most of its economy open.
Compared to other developed countries, Singapore has gained relative control over the Covid-19 pandemic.
The US dollar initially fell during the trading session on Wednesday but then turned around to rally towards the 50 day EMA again.
The Australian dollar initially fell during the trading session on Wednesday, reaching down towards the 0.72 level before rallying again.
USD/JPY: Yen and Dollar acting equally as safe havens
