Daily Market Analytics - Forex

EURUSD Technical Analysis – 24th JULY, 2024

EURUSD – Bearish Trend Reversal


EURUSD was unable to continue its bullish momentum and after touching a high of 1.0867 yesterday the prices started to decline steadily against the United States dollar.
The Parabolic SAR indicator is giving a bearish reversal signal in the 15-minutes timeframe.
The Momentum indicator is also back under zero in the 15-minutes timeframe.

The prices of EURUSD are ranging near the resistance of the channel in the 15-minutes timeframe.
We can also see the formation of Bearish Trend reversal pattern with the Adaptive Moving average AMA20 and AMA50 in the 15-minutes timeframe.
The MACD crosses down its Moving average in the daily timeframe.

EURUSD is now trading below its 100-hour SMA and its 200-hour SMA simple moving averages.
• Euro Bearish correction seen below the 1.0867 mark.
• Short-term range appears to be Mild Bearish.
• EURUSD continues to remain above the 1.0840 levels.
• Average true range ATR is indicating less market volatility.

The next support is located at 1.0833 which is a Pivot Point 1st Support Point.
EURUSD is now trading below its Pivot levels of 1.0851 and is moving into a Mild Bearish channel.

The price of EURUSD remains below its Classic support levels of 1.0848 and is moving towards its next target of 1.0831 which is a 3-10 Day MACD Oscillator Stalls.

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

GBPUSD Technical Analysis – 24th JULY, 2024

GBPUSD – Support Of Channel Is Broken


GBPUSD was unable to continue its bullish momentum and after touching a high of 1.2919 the prices have started to decline steadily against the United States dollar.
The support of the channel is broken in the 1-hourly timeframe.
The Parabolic SAR indicator is giving a bearish reversal signal in the 15-minutes timeframe.

The prices of GBPUSD are ranging near resistance of the channel in the 15-minutes timeframe.
The MACD crosses down its moving average in the daily timeframe.
The prices of GBPUSD are moving near a new low record of 1-month.

GBPUSD is now trading below its 100-hour SMA and its 200-hour SMA simple moving average.
• Pound Bearish correction seen below the 1.2919 mark.
• Short-term range appears to be Mild Bearish.
• GBPUSD continues to remain above the 1.2890 levels.
• Average true range ATR is indicating less market volatility.

GBPUSD is now trading above its Pivot levels of 1.2888 and is moving into a Mild Bearish channel.
The price of GBPUSD is above its Classic support levels of 1.2874 and is now moving towards its next target of 1.2885 which is a Pivot Point 1st Support Point.

We are also looking for the breach of the levels of 1.2879 which is a 38.2% Retracement From 4 Week High.

Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check FXOpen Blog

AUDUSD Technical Analysis – 22nd JAN, 2026
AUDUSD – Intraday dynamics on the four hour chart revealed stretched conditions


AUD/USD Technical Analysis – 22nd January 2026
On 22nd January 2026, AUD/USD advanced to a high of 0.6778, a level that underscored the strength of its ongoing recovery but simultaneously highlighted the presence of firm supply near the 0.6780 psychological zone. The candle structure was moderately extended with a pronounced upper wick, reflecting how buyers initially drove price higher but were met with resistance as sellers re entered to cap the advance. This rejection suggested that while the broader trend remained constructive, intraday enthusiasm was beginning to fade.

On the daily chart, the short term structure remained supportive, with the 20 day moving average positioned around 0.6745, cushioning the advance. The 50 day average, rising from 0.6690, reinforced medium term bullish momentum, while the 200 day average at 0.6560 confirmed the longer term uptrend. Momentum indicators hinted at caution: RSI readings hovered near 62, edging into overbought territory, while MACD values were positive but flattening, suggesting that upside strength was beginning to lose intensity.

Intraday dynamics on the four hour chart revealed stretched conditions. Stochastic oscillators pushed into the upper 70s, flashing overbought signals. Price stalled as sellers defended the 0.6775–0.6780 band, while immediate support was layered at 0.6745 and 0.6710. Volatility compressed into a narrowing corridor, often a precursor to breakout attempts, but the balance of flows suggested hesitation rather than conviction.

The weekly perspective provided broader context. Since the October 2025 trough near 0.6420, AUD/USD has carved a rising channel, with successive higher lows confirming the resilience of the bullish framework. Average True Range readings around 0.0060 reflected controlled but directional swings. Fibonacci retracement mapping from the July 2025 peak at 0.6895 to the October low at 0.6420 highlighted key checkpoints: 38.2% at 0.6605, 50% at 0.6655, and 61.8% at 0.6710. The 0.6778 high sat above this 61.8% marker, reinforcing its importance as a resistance zone where sellers were expected to regroup.

Sentiment at this juncture was shaped by the tension between short term overextension and longer term bullish conviction. Institutional flows appeared to fade near retracement resistance, while retail positioning remained cautious given the proximity to stretched oscillator readings. The ability of the pair to sustain above 0.6745 was critical, as holding this level would preserve the bullish narrative and invite renewed buying interest.

Looking forward, continuation of the rally requires a clean break above 0.6780, which would open the path toward 0.6840 and eventually 0.6895, aligning with prior swing highs. Conversely, a slip back below 0.6745 would expose the pair to corrective pressure toward 0.6710 and 0.6655, levels that coincide with retracement support and medium term averages. Until a decisive breakout occurs, range bound trading between 0.6745 and 0.6780 is likely to dominate, offering tactical opportunities for short term traders while the broader uptrend remains intact.

In summary, AUD/USD’s climb to 0.6778 on 22nd January 2026 was not a clean breakout but rather a reaffirmation of overhead resistance. The interplay of moving averages, Fibonacci retracement, and momentum signals pointed to a market pausing at a critical juncture, with sellers defending supply and buyers awaiting confirmation for the next leg higher.


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Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check ...

AUDUSD Technical Analysis – 17 JUNE, 2026
AUDUSD – AUD/USD registered a high of 0.7075 on 17 June 2026, a level that highlights the pair’s ongoing battle with resistance near the 0.7100 psychological threshold


AUD/USD registered a high of 0.7075 on 17 June 2026, a level that highlights the pair’s ongoing battle with resistance near the 0.7100 psychological threshold. This price action reflects both the technical structure of the market and the broader macroeconomic forces influencing the Australian Dollar against the U.S. Dollar. The high of 0.7075 is not just a number; it represents the culmination of a gradual recovery phase that has been unfolding since late May, where the pair has oscillated within a defined range, testing both support and resistance boundaries.

Technically, the 0.7075 high sits at the upper edge of a consolidation channel that has contained price action between 0.6980 on the downside and 0.7080 on the upside. This sideways movement underscores indecision among traders, with buyers defending dips near 0.6980 while sellers remain active above 0.7070. The repeated inability to break through 0.7100 convincingly suggests that this level is a strong supply zone, where profit-taking and renewed selling pressure emerge. A decisive daily close above 0.7100 would be required to shift sentiment toward a more bullish outlook, opening the path toward 0.7150 and potentially 0.7200, levels last seen earlier in the second quarter.
Momentum indicators provide further insight into the market’s condition. The Relative Strength Index (RSI) on the daily chart hovers around 58, reflecting moderate bullish momentum but stopping short of overbought territory. This indicates that buyers retain control but lack the conviction necessary to drive a sustained breakout. The MACD histogram, which had shown a positive crossover earlier in June, has since flattened, suggesting waning momentum and the likelihood of consolidation before the next directional move. Volume analysis adds weight to this interpretation, as participation has declined during the latest upswing, implying that the push toward 0.7075 was not backed by strong conviction.

Support and resistance levels remain clearly defined. Immediate resistance lies at 0.7080–0.7100, a zone that has repeatedly capped rallies. A break above this would unlock upside potential toward 0.7150–0.7200. On the downside, initial support is found at 0.7020, with the more critical 0.6980 pivot acting as a structural floor. A breakdown below 0.6980 would expose the pair to deeper retracement risks, potentially targeting 0.6920, which aligns with the 100-day moving average.

The macroeconomic backdrop adds another layer of complexity. The Australian Dollar continues to draw support from resilient commodity exports, particularly iron ore and LNG, buoyed by steady demand from Asia. However, the U.S. Dollar’s trajectory is shaped by shifting expectations around Federal Reserve policy. With inflation showing signs of moderation, markets are increasingly pricing in the possibility of a rate cut later in 2026. This has softened USD demand, but the Fed’s cautious stance prevents a wholesale bearish shift. As a result, AUD/USD remains caught between commodity-driven strength and the gravitational pull of USD’s safe-haven appeal.
For traders, the 0.7075 high serves as a tactical resistance point. Short-term strategies may favour buying dips near 0.7020–0.6980 with tight stops, while targeting rebounds toward 0.7100–0.7150. Swing traders may adopt a more patient stance, waiting for confirmation above 0.7100 to position for a medium-term extension toward 0.7200–0.7250. Conversely, a failure to hold above 0.6980 would shift bias toward bearish retracement, with 0.6920 as the next key battleground.

In conclusion, the AUD/USD high of 0.7075 on 17 June 2026 reflects a market in balance, with buyers and sellers locked in a tug-of-war around the 0.7100 resistance zone. Technical indicators, price structure, and macro fundamentals collectively suggest consolidation in the near term, with directional clarity likely to emerge only upon a decisive break of either 0.7100 resistance or 0.6980 support.

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Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.

For in-depth analysis, please check ...