USD/JPY analysis shows that the pair could sell-off sharply lower this week if the 108.40 to 108.20 support region is broken. Key fundamental developments are likely to drive the technicals.
EUR/USD analysis shows that the pair is still technically bearish. Buyers need to force the price above the 1.1115 level to encourage buying interest in the pair this week.
Gold remains technically bullish while trading above the $1,400 level. A broadening wedge pattern on the daily time frame points to an upcoming directional breakout.
The New Zealand dollar moved to its highest level against the US dollar since July earlier this week. Buyers will attempt to target the 0.6700 level if price starts to hold above the NZD/USD pairs 200-day moving average.
Silver has started to lose strength below the $17.00 level. A recovery back above the pivotal $17.50 resistance level is now needed to provoke the next strong rally in the price of silver.
The AUD/USD pair has a short-term bullish trading bias above the 0.6835 level. The medium-term trend remains bearish while price trades under the 0.6920 level.
The EUR/USD pair has made a strong recovery back above the 1.1000 level following weaker data from the US economy. Multiple daily price closes above the 1.1075 level are needed for further upside gains towards the 1.1170 level.
The British pound has been trapped in a two-hundred and fifty point trading range against the US dollar since mid-October, as Brexit uncertainty and UK political drama continues to unfold.
The US dollar has been notably stronger against the Japanese yen currency over the last seven days, with the pair rising by over one hundred pips and performing its strongest monthly price close since May this year.