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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CAD/CHF gains strength near 0.64 resistance, with traders watching for a breakout that could push the pair toward 0.66 amid Swiss franc weakness.
EUR/USD retreats from 1.05 resistance as the US dollar strengthens, with traders watching for a potential breakdown below the 50-day EMA.
Concerns over a widening global trade war continue to support gold prices, which are currently hovering around the resistance level of $2,915 per ounce.
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For two consecutive days, the EUR/USD currency pair has resumed trading within the broader downward trend, stabilizing around the support level of 1.0452
The USD/SGD has been able to sustain a lower realm since last Friday, while a slight climb higher has been seen this morning it does seem that a more tranquil mindset has begun to shift attitudes.
The Australian Dollar has remained firm against the US Dollar despite the RBA’ 0.25% rate cut which was applied earlier today, as the Bank pushed back against expectations of several further cuts in 2025.
The USD/BRL closed near the 5.7130 ratio after yesterday’s trading, but volumes in the Brazilian Real were low due to the U.S holiday which affected global Forex conditions.
During the trading session on Monday, it has been somewhat quiet in the dollar against the Mexican peso, but that's not a huge surprise considering that it was President's Day in America.
The British Pound has formed a rather intriguing candlestick for the session on Monday against the Swiss Franc, as we initially gapped lower only to turn around and rally fairly significantly.
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The Euro has risen slightly against the Swiss franc during fairly uneventful trading on Monday.
The Canadian dollar has fallen pretty significantly against the Japanese yen during trading on Monday as it looks like the 50-day EMA has come into the picture to offer significant resistance.
The GBP/USD exchange rate continued its strong uptrend, reaching a high of 1.2620, its highest level since December 18. It has risen in the last five straight days as the US dollar continued falling. Its next catalyst will be key UK economic data and Federal Reserve minutes.
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The British Pound has rallied just a bit during the early hours on Monday, but it's probably worth noting that the shooting star from Friday still loomed somewhat large.
USD/CAD stabilizes near 1.42. A move above 1.43 could trigger bullish momentum, while a break below may test 1.40 support.
USD/CHF bounces from 0.8950. Key resistance at 0.92, with potential to reach 0.95 if momentum continues.