Daily Forex Analysis - 26 March 2021

USD Overview (26 March 2021)

Yesterday, USD strengthened against most major currencies except GBP and AUD.

The U.S. final GDP q/q data (Actual: 4.3%, Forecast: 4.1%, Previous: 4.1%) released yesterday indicated a slight upward revision of GDP for the fourth quarter of 2020.

NZD/USD Outlook (26 March 2021)

Overall, NZD/USD is trending downwards.

Currently, NZD/USD is moving towards the key level of 0.70. Its next support zone is at 0.67900 and the next resistance zone is at 0.71000.

Look for selling opportunities of NZD/USD if it bounces down from the key level of 0.70.

AUD/USD Outlook (26 March 2021)

Overall, AUD/USD is ranging across.

Currently, AUD/USD is testing the support zone of 0.76000 and the next resistance zone is at 0.78000.

Look for selling opportunities of AUD/USD if it breaks the support zone of 0.76000.

USD/JPY Outlook (26 March 2021)

Overall, USD/JPY is trending upwards.

Currently, USD/JPY is testing the resistance zone of 109.000 and the next support zone is at 106.000.

Look for buying opportunities of USD/JPY if it breaks the resistance zone of 109.000.

EUR/USD Outlook (26 March 2021)

Overall, EUR/USD is trending downwards. Recently, EUR/USD trended into the support zone of 1.17900.

Euro summit will be held for the whole of today.

During this time, there may be volatility in EUR.

Currently, EUR/USD is testing the support zone of 1.17900 and the next resistance zone is at 1.19700.

Look for selling opportunities of EUR/USD if it breaks the support zone of 1.17900.

GBP/USD Outlook (26 March 2021)

Overall, GBP/USD is trending downwards. Recently, GBP/USD trended into the resistance zone of 1.37800.

The UK retail sales m/m data (Forecast: 2.2%, Previous: -8.2%) will be released later at 1500 (SGT).

Currently, GBP/USD is testing the resistance zone of 1.37800 and the next support zone is at 1.34800.

Look for selling opportunities of GBP/USD if it rejects the resistance zone of 1.37800.

USD/CAD Outlook (26 March 2021)

Overall, USD/CAD is ranging across. Recently, USD/CAD trended into the resistance zone of 1.26100.

Currently, USD/CAD is bouncing off the resistance zone of 1.26100 and the next support zone is at 1.23800.

Look for selling opportunities of USD/CAD.

GBP/JPY Outlook (26 March 2021)

Overall, GBP/JPY is ranging across. Recently, GBP/JPY broke the resistance zone 149.800.

The UK retail sales m/m data (Forecast: 2.2%, Previous: -8.2%) will be released later at 1500 (SGT).

GBP/JPYs next support zone is at 147.800 and the next resistance zone is at 149.800.

Look for buying opportunities of GBP/JPY.

EUR/JPY Outlook (26 March 2021)

Overall, EUR/JPY is ranging across.

Euro summit will be held for the whole of today.

During this time, there may be volatility in EUR.

EUR/JPYs next support zone is at 127.150 and the next resistance zone is at 129.500.

Look for selling opportunities of EUR/JPY.