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 has pulled back a little bit during the trading session from the highs as the 1.38 level continues to offer a significant amount of resistance.
The Aussie dollar initially pulled back just a bit during the trading session on Wednesday to test the 200 day EMA.
The British pound initially did fall a bit during the trading session on Wednesday as the 1.30 level has come back into the picture.
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The dollar has rallied a bit against the Swiss franc in the early hours of Wednesday, as we continue to see a fairly decent and sizable recovery.
The EUR/USD pair is likely to continue to decline as traders target the next major support at 1.0800, which connects the lowest levels since October 2023. Decisively, this is an important level as it connects the lowest volatility since August.
Gold prices continued their losses on Tuesday, falling to the support level of $2,638 per ounce, as the US dollar strengthened against a basket of major currencies, impacting demand for the precious metal.
The pound sterling has remained below $1.31, its lowest level in about a month, after new UK labor data strengthened bets that the Bank of England will continue to cut borrowing costs, with another cut expected next month.
Decisively, the USD/JPY price will remain subject to signals from global central bank officials and the extent of investors' risk appetite or not.
The USD/ILS has provided a choppy tight price range the past week as economic conditions remain troublesome and the sound of war remains constant.
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The NZD/USD attained new short and near-term lows early this morning, but technical traders who are wagering on downside should remain attentive to shifting sentiment.
During the early hours of Tuesday, silver pulled back a bit to show signs of weakness and dipped below the $31 level.
The day has been fairly noisy on Tuesday in the dollar against the Japanese yen as the 150 yen level continues to be a massive barrier.
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Gold markets initially pulled back just a bit during the trading session on Tuesday, but then turned around to show signs of life as we continue to see a lot of volatility and concerns in financial markets around the world.
The US dollar initially did rally during the trading session on Tuesday, but we are getting a bit stretched to say the least.
The Tuesday session has broken to the upside as the market had pierced the 8,300 Australian dollars level.