Forex Technicals

More Forex Technicals

XAU - Uptrend↗

Support / Resistance

vs HKD(Oz) 35,972 / 43,792

vs USD(Oz) 4,600 / 5,600

On Wednesday, White House spokesperson Leavitt indicated that there is no definitive timeline for the reopening of the Strait of Hormuz. With energy prices rising for five consecutive days and markets assessing inflation and liquidity risks, gold prices are expected to remain within a narrow range in the short term

 

EUR - Sideways➡

Support / Resistance

vs HKD 8.9930 / 9.3058

vs USD 1.15 / 1.19

Given the sharp rise in energy prices and the eurozone’s status as a major global energy importer, markets anticipate a substantial impact on both economic growth and inflation. This is expected to weigh on the European economy and limit the euro’s performance

 

JPY - Sideways➡

Support / Resistance

vs HKD 4.9494 / 5.1447

vs USD 152.00 / 158.00

Ongoing concerns about Middle East tensions and elevated oil prices have heightened risks for Japan’s import-reliant economy. On Tuesday, the yen fell to around 157.70 against the US dollar. Finance Minister Shunichi Katayama underscored the government’s vigilance regarding yen depreciation, noting that intervention remains under consideration

 

GBP - Sideways➡

Support / Resistance

vs HKD 10.3224 / 10.6352

vs USD 1.32 / 1.36

On Tuesday, Chancellor Rachel Reeves stated that the Office for Budget Responsibility has lowered its 2026 growth forecast to 1.1% and increased the projected unemployment rate to 5.3%. Rising energy costs have tempered market expectations for Bank of England rate cuts, while heightened stagflation risks are weighing on the pound

 

AUD - Sideways➡

Support / Resistance

vs HKD 5.2394 / 5.6304

vs USD 0.67 / 0.72

Market risk aversion has pressured the Australian dollar, causing it to dip below 0.70 US dollars. However, Australia’s status as a leading energy exporter and the comparatively higher interest rates of the Australian dollar are expected to underpin its exchange rate

 

NZD - Sideways➡

Support / Resistance

vs HKD 4.5200 / 4.7702

vs USD 0.58 / 0.61

Escalating tensions in the Middle East have driven investors towards safe-haven assets. Meanwhile, the Reserve Bank of New Zealand’s indication that monetary policy will remain accommodative for an extended period, alongside its dovish stance, continues to weigh on the New Zealand dollar

 

CAD - Sideways➡

Support / Resistance

vs HKD 5.5800 / 5.7000

vs USD 1.35 / 1.40

On Thursday, Canada announced a key minerals agreement with Australia and outlined plans to strengthen collaboration in several strategic sectors. The Carney gorvernment’s focus on trade diversification is expected to support Canada’s economic growth, while sustained increases in oil prices continue to underpin the Canadian dollar

 

CNH - Uptrend↗

Support / Resistance

vs HKD 1.1252 / 1.1500

vs USD 6.80 / 6.95

Market attention is centred on China’s “Two Sessions” meetings commencing on Thursday, where significant economic targets and annual policies will be established. The consensus is that the central government may moderately boost investment to alleviate economic pressures and provide support for the renminbi

 

CHF - Uptrend↗

Support / Resistance

vs HKD 9.8987 / 10.2895

vs USD 0.76 / 0.79

On Monday, the Swiss National Bank signalled its willingness to intervene in the foreign exchange market to counter the rapid appreciation of the Swiss franc. However, such verbal interventions are typically short-lived, and with the central bank having ruled out negative interest rates, the Swiss franc may experience a short-term rebound

 

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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