The USD/ZAR went slightly higher this morning upon its opening, following much of the broad Forex market as USD centric strength showed some momentum, the currency pair is around 16.51650 depending on bids and asks.
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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Like most risk-paired assets, this gapped firmly lower but has been rising quite strongly ever since the Tokyo open. The resistant area at $1.3450 seems likely to hold.
The EUR/USD exchange rate retreated slightly after the US published the latest consumer inflation report, which largely met expectations. It it was trading at 1.1685 on Monday morning, a few points below last week’s high of 1.1740.
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Bitcoin price remained in an uptrend on Monday as American investors continued accumulating the coin. The BTC/USD pair rose to 74,000 on Monday, its highest point in over three weeks. It has moved into a bull market after rising by over 20% from its lowest level this year.
The AUD/USD exchange rate jumped to the highest point since March 20 as the US dollar softened after last Friday’s consumer inflation report.
The EUR/USD finished near 1.17246 going into this week, this after seeing marks on Tuesday of this past week around the 1.15300 level.
The two-week ceasefire agreed between the USA and Iran early last week has boosted stock markets and suppressed energy prices, creating a more risk-on environment, but sentiment may darken as the first round of talks in Pakistan ends without a deal.
WTI Crude Oil went into the this weekend above the 90.000 USD mark, and by now speculators should be ready in their thinking for the opening of trading tomorrow which is certain to be an adventure as the week starts.
Coincidence or not, the price of Coffee Arabica moved in a correlated manner to the values of the WTI Crude Oil market this past week, this as volatility moved based on caution being expressed by traders via the Iranian ceasefire.
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Bitcoin holds steady despite risk concerns, while forex, indices, and commodities react to global sentiment and key macro events.
USD/CHF is sitting on an important support zone, with US yield trends and Middle East headlines likely to decide whether the pair bounces or slips toward 0.78.
EUR/USD is approaching the key 1.17 area on improving risk sentiment, though higher US yields and Middle East headlines may keep the pair volatile and rangebound.
GBP/JPY remains bullish as persistent yen weakness and favorable rate differentials push the pair toward the key 214–214.50 resistance zone.
Bitcoin is holding up well despite geopolitical turmoil, with a developing bottoming pattern and steady ETF inflows suggesting a possible breakout if $76,000 is cleared.
AUD/USD is trapped in the middle of a broad range, with 0.7150 as major resistance and 0.6950 near the 50-day EMA acting as the main support zone.