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.
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UK retail sales surged 2.9% in May, signaling consumer resilience and outpacing inflation for the first time since 2022. Yet, the pound slipped as investors weighed Bank of England’s dovish signals and election uncertainty, favoring the dollar amid global risk aversion. Market eyes remain sharp on BoE policy and economic data ahead.
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EUR/USD remains on a bearish path, sliding below the key 1.1100 support level as of July 24, 2025. Technical indicators and fundamental factors, including dovish ECB signals and a resilient US economy, favor further downside with targets near 1.1005. A break above 1.1185 would be needed to reverse this trend.
