Analyzes

The US dollar rallied toward 149 yen resistance on Wednesday, signaling potential for a breakout toward 151 or a continuation of range-bound movement.

Silver is pausing after a strong rally, with $42 as support and upside targets of $45–$46 still in play for bullish traders.

The AUD/USD pair catches fresh bids on Wednesday following the previous day’s two-way directionless price moves and rises beyond the 0.6600 mark, or a fresh weekly top during the early part of the European session.

The EUR/USD pair trades around 1.1750, with the US Dollar (USD) firmer across the FX board following Federal Reserve (Fed) Chair Jerome Powell’s appearance at the Greater Providence Chamber of Commerce on Tuesday.

GBP/USD stays under bearish pressure in the European session on Wednesday and trades below 1.3500. The technical outlook shows that sellers could retain control in the near term.

After posting gains on Monday, EUR/USD edged higher but struggled to gather bullish momentum on Tuesday. The pair corrects lower early Wednesday and trades slightly below 1.1800.