The U.S. dollar has experienced a broad decline against several major currencies in recent trading sessions. It weakened by over 0.6% against the Malaysian Ringgit, reaching a rate of 4.20. The British pound sterling rose 0.22% to $1.3570, marking its highest level since February 2022, while the Australian dollar increased by 0.38% to $0.6523, its highest since early December. The Australian dollar continued to strengthen, gaining 0.6% against the U.S. dollar, supported by movements in the Chinese yuan offshore (CNH) and other major currencies. Market data indicated that among U.S. dollar crosses, 11 out of 28 showed positive returns overnight, with notable volatility-adjusted movements in pairs such as NZDJPY, USDHKD, and AUDNZD. The Canadian dollar depreciated the most against the U.S. dollar at -0.13%, while the Chinese yuan offshore strengthened by 0.06%. On the following day, the U.S. dollar showed mixed performance with the Swedish krona depreciating 0.43% against it and the Mexican peso strengthening by 0.33%. Technical outlooks for major currency pairs showed varied momentum: EUR/USD rallies stalled near resistance levels with downside pressure building; USD/JPY buyers pushed through key resistance levels; NZD/USD sellers took profits near 2024 highs; and AUD/USD momentum stalled at its 100-hour moving average, indicating potential downside. These movements reflect ongoing adjustments in the foreign exchange market amid shifting global economic conditions.
AUDUSD Technical Outlook:Momentum stalls at 100-hour MA as downside levels come into focus https://t.co/mdisno1XHO
#USDJPY key levels to watch after powerful rally https://t.co/hE4RYVCieb
NZDUSD Technical:Sellers take profit near 2024 highs as key support levels come into focus https://t.co/w6n4cFmKVN