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 Australian dollar continues to struggle at the 0.73 level, an area that has been resistant more than once.
The British pound rallied again during the trading session on Wednesday.
The Euro continues to look very heavy above, as the 1.19 level has offered a significant amount of resistance.
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The West Texas Intermediate Crude Oil market has bounced rather hard during the trading session on Wednesday.
The Bitcoin market has been bullish during the trading session on Wednesday, as the Federal Reserve continues to keep its monetary policy very loose.
Since the beginning of this week’s trading, the EUR/USD has been in an upward correctional range, which pushed it towards the 1.1900 resistance.
For five trading sessions in a row, gold prices witnessed an upward movement with gains that pushed to $1973 an ounce, its highest level in two weeks.
Political uncertainty will remain high - conditions that usually help weaken the pound - especially after the British Parliament passed the first phase of the Home Market Bill with the government winning a 340 to 263 vote.
Ahead of this week’s important US Federal Reserve announcement of its monetary policy decisions and the statements of its Governor Jerome Powell, the USD/JPY was subject to selling operations that pushed it towards the 105.30 support, its lowest level in two weeks, and stabilized near it at the time of writing.
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The USD/NOK has experienced a strong bearish trend since mid-March.
The USD/MYR has continued to deliver a rather dynamic bearish trend.
Support near the 73.3000 juncture for the USD/INR proved to be an inflection point, but the move it produced was a bullish run higher and the forex pair tested high resistance levels yesterday.
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The South African Rand broke the critical 16.50000 support yesterday and has sustained its value beneath the important mark.
While Singapore recorded over 57,000 Covid-19 infections to date, the death toll of 27 is significantly lower than in other countries.
AUD/USD: Price likely to react strongly to FOMC release later