Copper eyes a more important turn lower – Credit Suisse

FXStreet Insights Team FXStreet

Copper maintains the break of its 200-Day Moving Average, which keeps analysts at Credit Suisse biased lower.

Resistance moves to the broken lows and 200-DMA at $8,370/8,44

Copper (LME) has stabilized this week but maintains its recent break below its 200-DMA and key range lows at $8,442/8368, with medium-term weekly MACD momentum also recently crossing into negative territory. Furthermore, the market also recently posted a clear weekly close below the key uptrend from 2020, which we viewed as a major breakdown.

We stay biased towards a trending phase to the downside despite the recent stabilization. With this in mind, we see the next support levels at $7,850, then $7,220 and finally the 2022 low and major retracement support at $6,955/6,844, which could prove a tough barrier.

Resistance moves to the broken lows and 200-DMA at $8,370/8,442, which we look to cap the market to keep the risks biased directly lower.

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

AUD/USD stays bid above 0.7100 on Australian trade data, Mideast optimism

AUD/USD clings to minor recovery gains above 0.7100 in the Asian session on Thursday as a new Israel-Lebanon ceasefire keeps a lid on the safe-haven US Dollar. Meanwhile, strong AustralianTrade Balane data also help the Aussie pair sustain the bounce from weekly lows.

USD/JPY hovers near the 160.00 intervention threshold on Mideast tensions

USD/JPY struggles to find acceptance above 160.00 and retreats from a one-month high in the Asian session on Thursday amid fears that authorities will step in again to prop up the Japanese Yen. Furthermore, a new Israel-Lebanon ceasefire caps the US Dollar and supports the currency pair. However, renewed US-Iran tensions keep the downside limited in the Greenback and the pair.

Gold rebounds from one-week low as Israel-Lebanon truce pressures safe-haven USD

Gold gains some positive traction on Thursday and climbs to the $4,475 area during the Asian session, reversing a major part of the previous day's slide to a one-week low. The Israel-Lebanon truce prompts some profit-taking around the US Dollar and supports the commodity.

Ethereum: Long-term holders' capitulation drives ETH below $1,800

Ethereum has fallen below $1,800 on Wednesday, the first time since May 2025 following accelerated spot selling pressure and distributions from long-term holders. The Age Consumed metric, which tracks the movement of previously idle tokens or long-term holders' coins, spiked over the past two days as prices declined, indicating increased selling activity among this cohort.

Kevin Warsh takes the Fed helm: What it means for the US Dollar

The Federal Reserve moves away from the highly predictable "forward guidance" model of the Jerome Powell era to a new “Kevin Warsh environment”, characterized by less communication, more policy surprises, and an increased focus on the Fed's complex balance sheet.

Recession on paper: What really moves the Canadian Loonie now?

Statistics Canada handed the headline writers a gift and the analysts a headache. Real GDP shrank 0.1% on an annualized basis in the first quarter, and with the fourth quarter of 2025 revised down to a 1.0% contraction, that is two negative quarters in a row, the textbook definition of a technical recession and Canada's first since the pandemic.