USD/CAD bounced as US yields rose on renewed Middle East concerns, with 1.37–1.3750 as key resistance and 1.3550 the next support below.

EUR/USD fell on Tuesday as rising US yields pressured the pair, with 1.18–1.1850 capping upside and 1.1670/1.16 acting as key support.

The US Dollar has gripped on to key support over the past week and despite clean rallies in both EUR/USD and GBP/USD, USD/JPY has held up quite well amidst the recent sequence of DXY weakness.

The USD/CAD pair fails to capitalize on the previous day’s modest recovery from the 1.3630 region, or its lowest level since March 13, and remains on the back foot during the Asian session on Wednesday.

EUR/USD remains subdued for the second consecutive day, trading around 1.1740 during the Asian hours on Wednesday. The pair holds little losses as the US Dollar (USD) gains ground on increased market caution amid ongoing uncertainty surrounding the Middle East conflict.

The EUR/USD pair trades in negative territory near 1.1750 during the early Asian session on Wednesday. The ongoing conflict between the United States and Iran, as well as uncertainty surrounding the Strait of Hormuz blockade, weighs on the Euro (EUR) against the US Dollar (USD).

The NZD/USD pair gathers strength to around 0.5905 during the Asian trading hours on Wednesday. The New Zealand Dollar (NZD) edges higher against the US Dollar (USD) on hotter-than-expected domestic inflation data.

The NZDUSD pair rose in its recent intraday trading, preparing to challenge the key resistance level at 0.5920, supported by continued trading above EMA50, which reinforces the short-term corrective bullish trend.

The USDCAD pair is holding onto gains during its recent intraday trading, supported by positive signals from the relative strength indicators after previously reaching deeply oversold levels. This has encouraged the pair to attempt to recover some of its earlier losses.

The AUDUSD pair rose during its recent intraday trading, supported by rebounding from EMA50, which provided positive momentum and helped the pair achieve these gains. This comes amid the dominance of the main bullish trend in the short term, along with emerging positive signals from the relative strength indicators after reaching deeply oversold levels relative to price movement, suggesting the formation of a positive divergence that supports further upside in the near term.