NZD/USD tries to bounce from oversold levels, but US Dollar strength, weak New Zealand fundamentals, and carry trade pressure keep the bearish outlook intact.
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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USD/MXN turns lower after testing resistance above 17.50, with carry trade dynamics and Fed rate expectations shaping the next move.
GBP/USD sits at a major support zone as US Dollar strength, Fed rate expectations, and a potential death cross shape the next move.
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AUD/USD attempts to stabilize near the 200-day EMA, with traders watching 0.6950 resistance and 0.6835 support for the next directional move.
Silver remains under pressure below $60 as US Dollar strength, Fed rate hike expectations, and weak commodity sentiment weigh on XAG/USD.
USD/CAD sees rare selling after a strong rally, but interest rate differentials, weak Canadian growth, and key support levels keep the bullish outlook intact.
Gold attempts to bounce near the crucial $4,000 level, but US Dollar strength, Fed rate hike expectations, and fading war premium keep pressure on XAU/USD.
EUR/USD remains bearish below 1.14 as US Dollar strength, Fed rate hike expectations, ECB caution, and a death cross weigh on the euro.
EUR/USD remains bearish near 1.1300 as US Dollar strength, Fed rate expectations, and weak euro momentum keep sellers in control.
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Gold remains bearish below $4,000 as US Dollar strength, Fed rate hike expectations, and ETF outflow risks keep pressure on XAU/USD.
Chainlink (LINK) is trading under pressure today, with the price hovering around $7.50 after an intraday move between $7.13 and $7.65. The token has managed to bounce from the lower end of that range, but the recovery remains limited while LINK trades below
On Tuesday and Wednesday of this week the USD/ILS challenged mid-term highs, and as of this morning although slightly below the upper part of its near-term values the currency pair is near 2.98270.
USD/MYR remains volatile as broad US Dollar strength, global risk sentiment, and stronger Malaysian economic data drive choppy price action.
GBP/USD: Hanging in the Balance?
AUD/USD remains bearish after breaking key support as US Dollar strength, softer Australian inflation, and upcoming US PCE data weigh on the pair.