Christopher Waller

Silver is entering a pivotal Federal Reserve decision with the hold outcome largely priced in, making the policy tone more important than the headline rate call. A firmer inflation warning, possible dissents, or an oil-driven hawkish message from Warsh could shift attention toward lower support for XAG.

Bitcoin fell sharply as renewed geopolitical risk, rising oil prices and caution ahead of the US consumer inflation report weighed on risk appetite. Technical traders are watching whether BTC/USD breaks toward $58,000 or recovers toward resistance near $65,000.

AUD/USD slipped to 0.6917 as traders positioned for US inflation data and assessed renewed geopolitical tension involving the US and Iran. Technical traders are watching a bearish flag structure, with 0.6865 emerging as the key downside target if dollar strength persists.

Major cryptocurrencies fell by 2% or more over 24 hours as traders sharply increased expectations for a Federal Reserve rate hike in July. The pullback comes before Tuesday’s inflation report and congressional testimony from Fed Chair Kevin Warsh, with oil prices and U.S.-Iran tensions adding to market anxiety.

EUR/USD softened around the 1.1423 area as traders assessed fresh US trade figures and awaited Federal Reserve meeting minutes. Technical traders are watching a bearish flag structure, with 1.1325 and 1.1500 framing near-term risk.

GBP/USD climbed to its highest level since June 17 after another round of disappointing US economic data weakened dollar sentiment. Technical traders are watching whether resistance near the 100-day moving average caps the move or opens the door to a test of 1.3500.

AUD/USD pushed above a closely watched resistance area after weaker US services data added pressure on the dollar. Traders are now focused on Federal Reserve minutes, Fed commentary, 0.6865 support and 0.7100 resistance.