Australian Dollar faces ongoing pressure against the US Dollar amid global economic uncertainty. Diverging central bank policies, volatile commodity prices, and cautious risk sentiment keep AUD/USD near multi-week lows. Market focus remains on evolving data and rate cut prospects from both the RBA and Fed. Credit: Mitrade News, Mitrade.com
EUR/USD held steady within a tight range on July 24, 2025, reflecting cautious market sentiment ahead of key ECB statements and US data. Support near 1.0890 and resistance at 1.0930 define the day’s boundaries. Technical indicators show consolidation, leaving room for a breakout or reversal. Traders should watch these levels closely in the coming sessions.
As global rates diverge, the Japanese yen is regaining its role as a favored funding currency in carry trades. Despite BOJ’s dovish stance and ultra-low yields, widening interest rate gaps make yen funding attractive for investors seeking higher returns abroad. #Forex #CarryTrade #JPY
USD/CAD remains range-bound after a short-term rally, facing resistance near 1.3642 with support at 1.3593. Technical indicators suggest consolidation, with neutral bias until a clear breakout occurs. Medium-term outlook stays cautiously bullish amid US economic strength and oil price volatility. Monitoring key levels will be crucial for directional cues.
The US dollar shows renewed strength as strong US labor data and persistent inflation revive expectations of a less aggressive Fed easing. EUR/USD faces resistance near 1.0900, USD/JPY gains on haven demand amid geopolitical risks, while AUD/USD struggles with China growth concerns. Market watchers eye Fed policy divergence and global risks for further moves.
UK retail sales rebounded strongly in May with a 2.9% monthly rise, surpassing expectations and signaling consumer resilience despite cost-of-living pressures. Yet, the pound slipped against the US dollar, underscoring ongoing currency market uncertainties amid mixed economic signals.
EUR/USD remains range-bound near 1.0880 amid mixed macro signals. Key support at 1.0850 holds while resistance at 1.0900 and 1.0940 caps upside. Watch for a decisive breakout above 1.1000 to confirm bullish momentum. Patience advised as traders await fresh economic data and central bank cues. Analysis by Mahmoud Abdallah on DailyForex.com July 24, 2025.
Tokyo inflation data shows cooler price pressures than expected, with core CPI rising 1.9% vs 2.2% forecast. The softer numbers reduce hopes for aggressive Bank of Japan rate hikes, leading to a weaker yen that hit 157.60 against the USD. Market eyes BoJ’s next move closely. #Forex #BOJ #JPY
USD/CAD remains range-bound with near-term support around 1.3600 and resistance at 1.3760-1.3785. Daily RSI near neutral and flattening MACD suggest limited momentum, while the pair tests key moving averages. A break above 1.3760 could signal short-term bullish reversal, but failure to hold support below 1.3620 may revive bearish pressure. Watch for confirmation amid ongoing US monetary policy and Canadian economic data.
Master forex trading with our complete guide covering fundamental principles, proven strategies, and key insights. Learn how currency pairs move, use leverage wisely, and trade effectively in the world’s largest financial market. Start building your trading edge today! #ForexTrading #TradingStrategies
