Forex Technicals

More Forex Technicals

CAD - Sideways➡

Support / Resistance

vs HKD 5.5988 / 5.7089

vs USD 1.37 / 1.40

After US–Canada trade talks collapsed, the US imposed an additional 50% tariff on Canada last Saturday (22nd). Prime Minister Carney announced reciprocal retaliatory tariffs on selected US goods. The deterioration in bilateral trade relations is likely to limit the Canadian dollar’s performance

 

EUR - Uptrend↗

Support / Resistance

vs HKD 9.0140 / 9.2100

vs USD 1.15 / 1.18

The eurozone’s August PMI increased from 52.0 to 52.1, beating forecasts and reaching its highest level since November. Export orders rose for the first time since the Russia–Ukraine conflict began. Markets anticipate further ECB tightening, potentially taking rates to 3% by 2027 and supporting the euro

 

JPY - Sideways➡

Support / Resistance

vs HKD 4.7795 / 5.1568

vs USD 152.00 / 164.00

Japan’s July CPI has strengthened expectations of a Bank of Japan rate rise in September. However, markets view a single hike as insufficient to sustain yen appreciation. The US–Japan interest rate gap and persistent concerns over Japan’s fiscal outlook are expected to keep the currency constrained

 

GBP - Uptrend↗

Support / Resistance

vs HKD 10.5033 / 10.7385

vs USD 1.34 / 1.37

Despite recent signs of recovery in UK data, the Office for National Statistics reported an unexpected £1.8 billion budget deficit in July. The new government’s first budget is likely to face added fiscal constraints, which may cap sterling’s upside and weaken sentiment

 

AUD - Sideways➡

Support / Resistance

vs HKD 5.4868 / 5.6436

vs USD 0.70 / 0.72

Australia’s July employment figures, released last Thursday (20th), showed an unexpected fall in jobs and a slight rise in unemployment to 4.5%, the highest in nearly five years. The softer labour market may reduce the Reserve Bank of Australia’s scope for further rate rises, limiting Australian dollar gains

 

NZD - Sideways➡

Support / Resistance

vs HKD 4.5462 / 4.7030

vs USD 0.58 / 0.60

New Zealand’s Q2 retail sales fell 0.5% quarter-on-quarter, an unexpected decline, while still rising 3.3% year-on-year. A hawkish RBNZ stance and a softer US dollar are supporting the kiwi, which may test resistance near US$0.60 short term

 

CNH - Uptrend↗

Support / Resistance

vs HKD 1.1527 / 1.1699

vs USD 6.70 / 6.80

China’s Vice Minister of Finance Liao Min said on last Friday (21st) that, as growth slows, authorities are drafting additional fiscal and financial support for the second half to lift weak domestic demand. These measures are expected to underpin continued strength in the renminbi

 

CHF - Sideways➡

Support / Resistance

vs HKD 9.5589 / 9.9219

vs USD 0.79 / 0.82

US–Japan joint intervention has supported the yen, alongside rising expectations of rate increases in Japan. By contrast, Switzerland is holding rates at 0%, and the franc’s low-cost, low-volatility profile is prompting markets to use it instead of the yen as the preferred funding currency, limiting franc appreciation

 

XAU - Uptrend↗

Support / Resistance

vs HKD(Oz) 32,921 / 37,624

vs USD(Oz) 4,200 / 4,800

The US Treasury’s unexpected announcement of long-dated bond buybacks suggests the government is keen to prevent long-term yields rising to levels that materially increase funding costs. Continued deterioration in the US fiscal and debt outlook could erode confidence in Treasuries and the dollar system, supporting safe-haven gold

 

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

Looking For More Investment Ideas?

Latest Offers

Explore a suite of different foreign currencies and master FX trends.

Foreign Currency T/T Exchange Rates

Get up-to-date foreign currency exchange rates and conduct exchange rate conversions easily.

Need Help?

Visit our branches

Footnote

Disclaimer

Information provided on these webpages is for general information and reference only and does not constitute nor is it intended to be construed as any professional advice, offer, solicitation, or recommendation to deal in any securities or investments. Investors should note that all investments involve risks (including the possibility of loss of the capital invested), prices of securities, foreign exchange, commodity and investment products may go up as well as down and past performance is not indicative of future performance. Investors should read the relevant investment offering documents and terms and conditions (including the full text of the risk factors stated therein) in detail before making any investment decision.

a. (For information produced by Hang Seng Bank Limited or its affiliates) The information is provided by Hang Seng Bank Limited or its affiliates ("Hang Seng") for general information and reference only and does not constitute nor is it intended to be construed as any professional advice, offer, solicitation, or recommendation to deal in any of the securities or investments mentioned herein. The information provided is based on sources which Hang Seng believes to be reliable but has not been independently verified. Any projections and opinions expressed herein are expressed solely as general market commentary and do not constitute solicitation, recommendation, investment advice, or guaranteed return. They represent the views of Hang Seng or the analyst(s) who prepare(s) the information at the time of publication and are subject to changes without notice. No guarantee, representation, warranty or undertaking, express or implied, is made as to the fairness, accuracy, timeliness, completeness or correctness of any general financial and market information, news services and market analysis, projections and/or opinions (“Market Information”) provided on these webpages and the basis upon which any such Market Information have been made, and no liability or responsibility is accepted by Hang Seng in relation to the use of or reliance on any such Market Information whatsoever provided on these webpages. Investors must make their own assessment of the relevance, accuracy and adequacy of the information, projections and/or opinions provided on these webpages and make such independent research/investigations as they may consider necessary or appropriate for the purpose of such assessment. Hang Seng does not make any representation or recommendation or assessment as to whether or not any of the investment(s) mentioned herein is/are suitable or applicable to any persons and thus shall not be held responsible in this regard. Investors should make investment decision(s) based on his/her own financial situation, investment experience, investment objectives, and specific needs; and if necessary, should seek independent professional advice before making any investment decision(s).

All investments involve risks. Investors should note that prices of securities, foreign exchange, commodity and investment products may go up as well as down and past performance is not indicative of future performance. Investors should read the relevant investment offering documents and terms and conditions (including the full text of the risk factors therein) in detail before making any investment decisions.

The research analyst(s) who prepared the information certifies(y) that the views expressed herein accurately reflect the research analyst's(s') personal views and that no part of his/her/their compensation was, is or will be directly or indirectly related to the specific recommendation(s) or views contained in the information provided on these webpages.

b. (For information produced by third-party information providers) Hang Seng Bank Limited and its affiliates (“Hang Seng”) neither endorses nor is responsible for the accuracy or reliability of, and under no circumstances will Hang Seng be liable for any loss or damage caused by any opinion or statement made in the information produced and provided by third-party information providers. The information is for general information and reference only and does not constitute nor is it intended to be construed as any professional advice, offer, solicitation or recommendation to deal in any of the securities or investments mentioned herein. Any projections and opinions expressed herein are expressed solely as general market commentary and do not constitute solicitation, recommendation, investment advice, or guaranteed return. The opinions expressed are those of the featured speaker(s), and do not represent Hang Seng's views. The opinions given by the featured speaker(s) are subject to changes without notice and should not be construed as a solicitation, recommendation, or advice on any individual holdings or market sectors. No guarantee, representation, warranty or undertaking, express or implied, is made as to the fairness, accuracy, timeliness, completeness or correctness of any third party information, projections and/or opinions provided on these webpages and the basis upon which any such third party projections and/or opinions have been made, and no liability or responsibility is accepted by Hang Seng in relation to the use of on any such third party information, projections and/or opinions whatsoever provided on these webpages. Investors must make their own assessment of the relevance, accuracy and adequacy of the information, projections and/or opinions provided on these webpages and make such independent research/investigations as they may consider necessary or appropriate for the purpose of such assessment. Hang Seng does not make any representation, solicitation, recommendation, or assessment as to whether or not any of the investment(s) mentioned herein is/are suitable or applicable to any persons and thus shall not be held responsible in this regard. Investors should make investment decision(s) based on his/her own financial situation, investment experience, investment objectives, and specific needs; and if necessary, should seek independent professional advice before making any investment decision(s).

All investments involve risks. Investors should note that prices of securities, foreign exchange, commodity and investment products may go up as well as down and past performance is not indicative of future performance. Investors should read the relevant investment offering documents and terms and conditions (including the full text of the risk factors therein) in detail before making any investment decisions.

These webpages have not been reviewed by the Securities and Futures Commission of Hong Kong or any regulatory authority in Hong Kong.

It is prohibited to reproduce, store in a retrieval system, or transmit, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise any part of the information provided on these webpages. The information provided on these webpages is solely for personal and non-commercial use and for general information and reference only. Re-distribution of any part of the information in any means or use of the information for any other purposes is strictly prohibited.