Daily Market Analysis - Majors

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NZDUSD Technical Analysis – 18 JUNE, 2026
NZDUSD – NZD/USD recorded a low of 0.5748 on 18 June 2026, a level that underscores the New Zealand Dollar’s vulnerability and highlights the difficulty in sustaining upward momentum against the U.S. Dollar.

NZD/USD recorded a low of 0.5748 on 18 June 2026, a level that underscores the New Zealand Dollar’s vulnerability and highlights the difficulty in sustaining upward momentum against the U.S. Dollar. This low is significant because it represents a test of multi month support and reflects both technical weakness and the broader macroeconomic divergence between New Zealand and the United States. The move to 0.5748 is part of a corrective phase following the failure to break convincingly above the 0.5820 resistance earlier in June.

From a technical perspective, the 0.5748 low sits at the lower boundary of a fragile ascending channel that has guided price action since late May. The pair has oscillated between 0.5750 on the downside and 0.5820 on the upside, reflecting indecision among traders. The inability to hold above the 0.5800 pivot earlier in the week reinforced bearish sentiment, and the subsequent slide toward 0.5748 confirms the dominance of sellers. This level now serves as immediate support, with any decisive break below it likely to expose the pair to further downside toward 0.5700, a zone last tested in early Q1. On the upside, resistance is clearly defined at 0.5820, followed by 0.5880, which coincides with the 50 day moving average and represents a key barrier to recovery.

Momentum indicators provide additional clarity. The Relative Strength Index (RSI) on the daily chart sits near 40, reflecting sustained downward momentum and approaching oversold territory. This suggests that while the pair is under pressure, exhaustion may soon set in, potentially leading to a corrective rebound. The MACD histogram remains firmly negative, with the signal line diverging below the zero axis, reinforcing the bearish bias. Volume analysis shows heightened activity during the decline toward 0.5748, indicating that the move was supported by conviction rather than thin liquidity.

The macroeconomic backdrop adds depth to the technical picture. The New Zealand Dollar has been weighed down by subdued domestic growth and cautious Reserve Bank of New Zealand policy, which has kept interest rates steady despite global shifts. Commodity exports, particularly dairy, remain supportive, but weaker demand from key trading partners has limited upside potential. Meanwhile, 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. The divergence between New Zealand’s economic fragility and U.S. resilience has reinforced the structural pressure on NZD/USD, making rallies increasingly difficult to sustain.

Trading implications are clear. Short term traders may look to capitalize on range bound strategies, buying dips near 0.5750 with tight stops while targeting rebounds toward 0.5820. However, the broader bias remains bearish, and swing traders may prefer to wait for a confirmed break below 0.5748 to position for a medium term extension toward 0.5700. Conversely, only a sustained daily close above 0.5880 would signal a potential reversal of the downtrend, opening the door for recovery toward 0.5950.

In conclusion, the NZD/USD low of 0.5748 on 18 June 2026 highlights the pair’s entrenched bearish momentum, shaped by both technical structure and macroeconomic divergence. Unless the New Zealand Dollar finds renewed fundamental support, the path of least resistance remains lower, with 0.5748 serving as the immediate battleground between buyers and sellers.

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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.

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USDCAD Technical Analysis – 18 JUNE, 2026
USDCAD – USD/CAD recorded a high of 1.4132 on 18 June 2026, a level that underscores the Canadian Dollar’s struggle to maintain strength against the U.S. Dollar and highlights the pair’s bullish momentum.

USD/CAD recorded a high of 1.4132 on 18 June 2026, a level that underscores the Canadian Dollar’s struggle to maintain strength against the U.S. Dollar and highlights the pair’s bullish momentum. This high is significant because it represents a continuation of the rebound phase that began in early June, where USD/CAD steadily climbed from the 1.3990 base toward the mid 1.4100s. The move to 1.4132 reflects both technical resilience and the broader macroeconomic divergence between the United States and Canada.

From a technical perspective, the 1.4132 high sits just above the resistance band at 1.4100–1.4120, confirming a breakout and reinforcing bullish sentiment. The pair has been trading within an ascending channel, with the lower boundary near 1.4000 and the upper boundary now extending toward 1.4180. The breakout above 1.4100 earlier in the week confirmed bullish momentum, and the subsequent extension toward 1.4132 suggests that buyers remain firmly in control. A sustained daily close above 1.4180 would be required to unlock upside potential toward 1.4250 and 1.4320, levels last tested in early Q2. On the downside, immediate support lies at 1.4070, followed by the more critical 1.4000 pivot, which has acted as a structural floor during the recent rally. A breakdown below 1.4000 would signal a potential reversal, exposing the pair to retracement risks toward 1.3920.

Momentum indicators provide further clarity. The Relative Strength Index (RSI) on the daily chart is hovering near 65, reflecting strong bullish momentum but not yet in extreme overbought territory. This suggests that there is still room for further gains before exhaustion sets in. The MACD histogram remains positive, with the signal line diverging above the zero axis, reinforcing the bullish bias. Volume analysis shows increased participation during the rally toward 1.4132, indicating that the move was supported by conviction rather than thin liquidity, a sign that buyers are committed to sustaining the trend.

The macroeconomic backdrop adds depth to the technical picture. The U.S. Dollar has benefited from stabilizing growth and 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, but the Fed’s cautious stance has prevented a wholesale bearish shift. Meanwhile, the Canadian Dollar continues to draw support from resilient crude oil prices, which remain elevated due to supply constraints and steady global demand. However, the Bank of Canada’s cautious monetary stance, combined with slower domestic growth, has limited CAD’s ability to mount a sustained recovery. This divergence in fundamentals has reinforced USD/CAD’s bullish bias, making rallies more sustainable.

Trading implications are clear. Short term traders may look to capitalize on momentum by buying dips near 1.4070–1.4000 with tight stops, targeting extensions toward 1.4180–1.4250. Swing traders may adopt a more patient stance, waiting for confirmation above 1.4180 to position for a medium term extension toward 1.4320. Conversely, a failure to hold above 1.4000 would shift bias toward bearish retracement, with 1.3920 as the next key battleground.

In conclusion, the USD/CAD high of 1.4132 on 18 June 2026 reflects a market leaning bullish, supported by both technical breakout and macroeconomic divergence. Unless the Canadian Dollar finds renewed fundamental support, the path of least resistance remains higher, with 1.4180 serving as the next critical target for buyers.

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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.

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USDCHF Technical Analysis – 18 JUNE, 2026
USDCHF – USD/CHF recorded a high of 0.8048 on 18 June 2026, a level that highlights the U.S. Dollar’s attempt to recover against the Swiss franc while simultaneously confronting a critical resistance zone.

USD/CHF recorded a high of 0.8048 on 18 June 2026, a level that highlights the U.S. Dollar’s attempt to recover against the Swiss franc while simultaneously confronting a critical resistance zone. This high is significant because it represents a continuation of the rebound phase that began in mid June, where USD/CHF has steadily climbed from the 0.7910 base toward the mid 0.8000s. The move to 0.8048 underscores both technical resilience and the influence of shifting macroeconomic dynamics between the United States and Switzerland.

From a technical standpoint, the 0.8048 high sits just below the key resistance band at 0.8080–0.8120, which has historically acted as a supply zone. The pair has been trading within an ascending channel since early June, with the lower boundary near 0.7920 and the upper boundary now extending toward 0.8120. The breakout above 0.8000 earlier in the week confirmed bullish momentum, but the inability to decisively clear 0.8080 suggests that sellers remain active at higher levels. A sustained daily close above 0.8120 would be required to unlock upside potential toward 0.8200 and 0.8280, levels last tested in early Q2. On the downside, immediate support lies at 0.8000, followed by the more critical 0.7920 pivot, which has acted as a structural floor during the recent rally. A breakdown below 0.7920 would signal a potential reversal, exposing the pair to retracement risks toward 0.7850.

Momentum indicators provide further clarity. The Relative Strength Index (RSI) on the daily chart is hovering near 62, reflecting strong bullish momentum but not yet in extreme overbought territory. This suggests that there is still room for further gains before exhaustion sets in. The MACD histogram remains positive, with the signal line diverging above the zero axis, reinforcing the bullish bias. Volume analysis shows increased participation during the rally toward 0.8048, indicating that the move was supported by conviction rather than thin liquidity, a sign that buyers are committed to sustaining the trend.

The macroeconomic backdrop adds depth to the technical picture. The U.S. Dollar has benefited from stabilizing growth and 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, but the Fed’s cautious stance has prevented a wholesale bearish shift. Meanwhile, the Swiss franc continues to retain its safe haven appeal, bolstered by Switzerland’s stable economic outlook and relatively lower inflation compared to the U.S. The Swiss National Bank has maintained a cautious stance, intervening selectively to prevent excessive franc strength. This divergence in fundamentals has created a tug of war between USD recovery optimism and franc stability, making USD/CHF’s trajectory highly sensitive to shifts in sentiment.

Trading implications are clear. Short term traders may look to capitalize on momentum by buying dips near 0.8000–0.7920 with tight stops, targeting extensions toward 0.8120–0.8200. Swing traders may adopt a more patient stance, waiting for confirmation above 0.8120 to position for a medium term extension toward 0.8280. Conversely, a failure to hold above 0.7920 would shift bias toward bearish retracement, with 0.7850 as the next key battleground.

In conclusion, the USD/CHF high of 0.8048 on 18 June 2026 reflects a market leaning bullish but constrained by strong resistance near 0.8080. Technical indicators, price structure, and macro fundamentals collectively suggest that while buyers retain control, directional clarity will only emerge upon a decisive break of either 0.8120 resistance or 0.7920 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 ...

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USDJPY Technical Analysis – 18 JUNE, 2026
USDJPY - USD/JPY recorded a high of 161.80 on 18 June 2026, a level that underscores the pair’s strong bullish momentum and highlights the yen’s continued weakness against the U.S. Dollar.

USD/JPY recorded a high of 161.80 on 18 June 2026, a level that underscores the pair’s strong bullish momentum and highlights the yen’s continued weakness against the U.S. Dollar. This high is significant because it represents an extension of the uptrend that has been in place since late May, where USD/JPY has consistently carved out higher highs and higher lows. The move to 161.80 reflects both technical strength and the broader macroeconomic divergence between Japan and the United States.

From a technical perspective, the 161.80 high sits just below the resistance band at 162.00–162.50, which has historically acted as a supply zone. The pair has been trading within a rising channel, with the lower boundary near 159.50 and the upper boundary now extending toward 162.50. The breakout above 160.80 earlier in the week confirmed bullish momentum, and the subsequent extension toward 161.80 suggests that buyers remain firmly in control. A sustained daily close above 162.50 would be required to unlock upside potential toward 164.00 and 165.50, levels last tested in early Q2. On the downside, immediate support lies at 160.50, followed by the more critical 159.50 pivot, which has acted as a structural floor during the recent rally. A breakdown below 159.50 would signal a potential reversal, exposing the pair to retracement risks toward 158.20.

Momentum indicators provide further clarity. The Relative Strength Index (RSI) on the daily chart is hovering near 69, reflecting strong bullish momentum and approaching overbought territory. This suggests that while buyers remain in control, caution is warranted as the pair nears exhaustion levels. The MACD histogram remains firmly positive, with the signal line diverging above the zero axis, reinforcing the bullish bias. Volume analysis shows increased participation during the rally toward 161.80, indicating that the move was supported by conviction rather than thin liquidity, a sign that buyers are committed to sustaining the trend.

The macroeconomic backdrop adds depth to the technical picture. The U.S. Dollar has benefited from stabilizing growth and 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, but the Fed’s cautious stance has prevented a wholesale bearish shift. Meanwhile, the Japanese yen continues to suffer from the Bank of Japan’s ultra loose monetary policy, which has kept interest rates near zero despite rising global yields. This divergence in monetary policy has widened yield differentials, making the dollar more attractive relative to the yen. Additionally, the yen’s traditional safe haven appeal has been diminished by global risk appetite, as investors favour higher yielding assets, further pressuring the currency.

Trading implications are clear. Short term traders may look to capitalize on momentum by buying dips near 160.50–159.50 with tight stops, targeting extensions toward 162.50–164.00. Swing traders may adopt a more patient stance, waiting for confirmation above 162.50 to position for a medium term extension toward 165.50. Conversely, a failure to hold above 159.50 would shift bias toward bearish retracement, with 158.20 as the next key battleground.

In conclusion, the USD/JPY high of 161.80 on 18 June 2026 reflects a market firmly in bullish control, supported by both technical breakout and macroeconomic divergence. Unless the yen finds renewed fundamental support, the path of least resistance remains higher, with 162.50 serving as the next critical target for buyers.

#fxopen #forex #forexanalysis

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 ...