technical

The US dollar dropped against the peso after Powell’s dovish shift, with USD/MXN targeting 18.50 support and resistance holding near 19.00.

Silver rallied sharply on Friday, testing $39 resistance with bullish momentum eyeing $40–$42.50 while short-term support holds near $38.

The British pound dropped against the yen despite a risk-on backdrop, with GBP/JPY capped at 200 resistance and support near 198.40.

AUD/USD rebounded after forming a double-bottom at 0.6420, with bullish momentum targeting 0.6567 while 0.6422 acts as critical support.

GBP/USD formed an inverse head-and-shoulders pattern after Powell’s dovish remarks, with bullish momentum aiming for 1.3700 while 1.3400 acts as key support.

Jerome Powell’s dovish speech on a September rate cut last Friday saw markets turnaround, with the major US equity index again poised to challenge its record high if the bullishness is sustained into the coming week.