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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Silver remains choppy below the 50-day EMA, with $80 acting as fair-value resistance and $70 as the key support level to watch.
USD/JPY remains bullish as yen weakness persists, but traders should stay cautious near 160 where intervention risk and prior selling pressure remain important.
EUR/CHF is under short-term pressure as risk appetite fades, but 0.91 support and Swiss National Bank intervention risks may attract longer-term buyers.
Bitcoin continues to consolidate around the 50-day EMA, with institutional ETF inflows and a rounded-bottom setup keeping the longer-term bullish case alive.
AUD/USD is testing the 50-day EMA as traders watch US dollar strength, with 0.7080 as support and 0.72 as the level needed to revive upside momentum.
This currency pair is on the sidelines today, with little happening with the Euro as major Eurozone members are on holiday.
Natural gas remains under selling pressure as weak seasonal demand weighs on prices, with rallies likely to be faded while traders target $2.65.
USD/MXN remains choppy but bearish overall, with traders looking to fade rallies near the 50-day EMA or 17.50 while 17.00 acts as a strong floor.
Crude oil remains volatile just below $100, with buyers defending the 50-day EMA while traders watch $105 and $110 as the next upside levels.
GBP/USD is hovering between key moving averages, leaving the pair rangebound and noisy with 1.35 as resistance and 1.33 as support.
The USD/MXN is near the 17.28035 mark as of this writing in early trading as Monday has begun amidst light holiday action and a cloud of positive energy hovering over Forex today.
The USD/ZAR has opened with strong lower momentum this morning and is near the 16.34800 ratio with a wide spread amidst light trading as holidays and improved sentiment cause volatility.
The GBP/USD pair wavered as traders reacted to the latest developments in the United States, where President Donald Trump is working on a deal to reopen the Strait of Hormuz. It was trading at 1.3430 on Monday morning, higher than this month’s low of 1.3300.
Bitcoin price continued its downward trend, moving to its lowest level in over a month as ETF outflows continued and odds of a hawkish Federal Reserve jumped amid the stubbornly high inflation.
The AUD/USD pair remained under pressure on Monday as geopolitical tensions rose and as traders reacted to last week’s Australia’s jobs report. It was trading at 0.7128 as focus shifts to the closely-watched inflation report.
