The US dollar rallied against the South African rand on Friday, as traders continue to see a lot of risk appetite volatility globally. With this, an opportunity might be presenting itself.
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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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The US dollar rallied against the yen on Friday, as we are taking on the idea of breaking above the crucial 158-yen level.
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The WTI crude oil price continued its strong bull run on Monday as the war in Iran continued, pushing more countries to reduce production and shipments. It jumped to a high of $119, the highest level in over 2 years and has more than doubled from the lowest level this year.
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The CAD/JPY exchange rate continued rising, reaching its highest level since July 2024 as the war in Iran exposed Japan to a major oil shock. It jumped to a high of 116.35, up sharply from last year's low of 101.17.
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The GBP/USD pair rose slightly as traders reacted to the latest US jobs numbers, which showed that the labor market was facing substantial strains. It was trading at 1.3410, up substantially from this month's low of 1.3256.
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The EUR/USD pair rose after the US released a weak February jobs report on Friday. It jumped to 1.1616 on Monday, up from last week’s low of 1.1530. The pair will be in focus this week as the war escalates and as the US releases the latest consumer inflation report.
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The AUD/USD exchange rate rose slightly to 0.7030 on Monday as traders watched the ongoing war in Iran, soaring crude oil prices, and the upcoming consumer inflation report. It has jumped from this month's low of 0.6945.
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The WTI crude oil price continued its strong rally last week as the impact of the ongoing war in Iran continues. It surged to a multi-year high of $92.66 on Friday, up by 67% from its lowest level this year.
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The EUR/USD exchange rate suffered its biggest drop since July last year as investors moved to the safety of the US dollar. It ended the week at 1.1615, down from the year-to-date high of 1.2088.
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Full-scale war over Iran in the Middle East has pushed energies to multi-year highs and helped strengthen safe havens such as the US Dollar and Gold.
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Silver, the S&P 500, Bitcoin and several FX pairs are trading near important technical levels. Dollar strength and volatility are shaping how markets react across asset classes.
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USD/CHF is slowly turning higher as the US dollar benefits from yield support, with dip-buying favored unless the pair breaks back below 0.76.
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Silver continues to be very noisy on Thursday, as traders continue to see the 50-day EMA indicator, and more importantly, the $80 level.
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NZD/USD is under pressure in a risk-off market, with the 200-day EMA and 0.58 as key downside levels while 0.60 caps any recovery attempts.
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GBP/JPY is stuck in a volatile range around 210, with 208 as downside support and 212 as the key breakout level for a move toward 215.
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