Forex Technicals

More Forex Technicals

EUR - Uptrend↗

Support / Resistance

vs HKD 8.9678 / 9.1322

vs USD 1.15 / 1.17

Last Friday, US President Trump said he had threatened to withdraw from NATO, citing insufficient support from European member states. This could reignite transatlantic tensions and, over time, may prompt Europe to reduce its holdings of US dollar-denominated assets, potentially supporting the euro in the longer term

 

JPY - Sideways➡

Support / Resistance

vs HKD 4.8647 / 5.0013

vs USD 156.50 / 160.50

Renewed escalation in the Middle East has lifted oil prices sharply and pushed USD/JPY above the key 160 level. Markets are alert to the risk of Japanese intervention last seen in July 2024 when the pair was near 161, which is helping to underpin the yen

 

GBP - Sideways➡

Support / Resistance

vs HKD 10.3384 / 10.5733

vs USD 1.32 / 1.35

Last Thursday, the OECD cut its UK growth forecast for 2026 by the largest amount among major economies and raised its UK inflation projection by the biggest margin. This has increased market concerns over the UK’s economic outlook

 

AUD - Uptrend↗

Support / Resistance

vs HKD 5.3258 / 5.4825

vs USD 0.68 / 0.70

Australian Prime Minister Anthony Albanese said the Australia–EU free trade agreement will remove import tariffs on almost all key Australian minerals entering the EU and is expected to generate around AUD 10 billion in annual economic benefits, supporting the Australian dollar

 

NZD - Sideways➡

Support / Resistance

vs HKD 4.4643 / 4.6444

vs USD 0.57 / 0.59

New Zealand’s Treasury expects inflation could rise to 3.7% on the back of higher energy prices. However, the RBNZ Governor said on last Tuesday the Bank will look through certain short-term inflation effects, signalling a more dovish stance that is weighing on the New Zealand dollar

 

CAD - Sideways➡

Support / Resistance

vs HKD 5.5800 / 5.7000

vs USD 1.36 / 1.40

Mexico has entered formal talks with the US on renewing the USMCA, while Canada has so far limited engagement to informal discussions. The resulting uncertainty is constraining the Canadian dollar, although elevated oil prices continue to offer some support

 

CNH - Uptrend↗

Support / Resistance

vs HKD 1.1269 / 1.1518

vs USD 6.80 / 6.95

US President Donald Trump said on social media that he intends to visit China on 14–15 May to meet President Xi Jinping. Since the US Supreme Court curtailed his tariff-setting authority in February, Beijing is expected to have stronger leverage to secure more favourable trade terms, which could lend support to the renminbi

 

CHF - Uptrend↗

Support / Resistance

vs HKD 9.7293 / 10.0412

vs USD 0.77 / 0.80

Escalating Middle East tensions, which including the Houthis threats to block the Bab el-Mandeb Strait in the Red Sea, have driven energy prices sharply higher. If the conflict spreads across the region and lasts for weeks or longer, safe-haven demand is likely to keep the Swiss franc supported and relatively stable

 

XAU - Uptrend↗

Support / Resistance

vs HKD(Oz) 33,678 / 36,028

vs USD(Oz) 4,300 / 4,600

Turkey’s central bank reserves data suggest it sold around 50 tonnes of gold last week, generating roughly US$3bn in liquidity. This could weigh on gold in the near term, but a prolonged Middle East conflict may heighten global inflation risks and fiscal deterioration, which would likely underpin prices

 

Legends

Uptrend ↗  Sideways →  Downtrend ↘

*Pertaining to historical technical trend analysis only and do not reflect any forecasts or any forward looking views

Provided by Hang Seng Investment Services Limited

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