Forex Technicals

More Forex Technicals

CNH - Uptrend↗

Support / Resistance

vs HKD 1.1441 / 1.1611

vs USD 6.75 / 6.85

Mainland China’s June trade data, released Tuesday (14th), showed a US$125.6bn surplus, beating expectations and marking the strongest outcome in four months. Strong exports should help sustain RMB strength. Attention now turns to Wednesday’s (15th) second-quarter GDP release

 

EUR - Sideways➡

Support / Resistance

vs HKD 8.8561 / 9.0129

vs USD 1.13 / 1.15

Reuters reported on Monday (13th) that the US and Iran continue to exchange attacks, further escalating tensions in the Middle East and driving oil prices higher. The struggle for control of the strait is expected to persist, potentially constraining the euro’s exchange rate in the near term

 

JPY - Uptrend↗

Support / Resistance

vs HKD 4.8082 / 4.8983

vs USD 160.00 / 163.00

Bloomberg reports that Japan has no immediate plans to comprehensively revise the national pension fund’s target asset allocation. Markets, digesting last week’s remarks by Finance Minister Satsuki Katayama, expect little change in the near term, though longer-term positioning may still underpin the yen’s exchange rate

 

GBP - Uptrend↗

Support / Resistance

vs HKD 10.3452 / 10.6195

vs USD 1.32 / 1.36

Bank of England Governor Andrew Bailey said on Tuesday (14th) that the UK outlook is supported by the government’s fiscal framework and monetary policy stance. However, rebounding oil prices are lifting inflation risks, strengthening expectations of further rate rises and potentially supporting sterling

 

AUD - Sideways➡

Support / Resistance

vs HKD 5.3294 / 5.5253

vs USD 0.68 / 0.71

Last Thursday (9th), Australia announced an uranium export agreement with India to support nuclear power, alongside deeper collaboration on renewables and critical minerals. The deal creates an additional market for Australia’s resources sector and is expected to be supportive for the Australian dollar

 

NZD - Sideways➡

Support / Resistance

vs HKD 4.3889 / 4.5848

vs USD 0.56 / 0.59

New Zealand’s June manufacturing index rose to a five-year high, underscoring robust sector momentum. With Middle East tensions lifting oil prices, expectations for further RBNZ tightening have strengthened. Rate futures now imply an 85% probability of another hike in September, supporting the kiwi

 

CAD - Sideways➡

Support / Resistance

vs HKD 5.4806 / 5.5981

vs USD 1.40 / 1.43

The Bank of Canada is widely expected to hold rates steady on Wednesday (15th), marking six months without a change. Attention will turn to its quarterly report, released the same day, for updated growth and inflation forecasts amid oil price swings and US–Canada trade uncertainty

 

CHF - Uptrend↗

Support / Resistance

vs HKD 9.5577 / 9.9206

vs USD 0.79 / 0.82

Switzerland’s May retail sales rose 3.5% year on year, materially above the 0.8% consensus. June PMI eased slightly but stayed in expansion. However, the Swiss National Bank retains a dovish tilt, which is expected to limit Swiss franc upside

 

XAU - Uptrend↗

Support / Resistance

vs HKD(Oz) 28,214 / 34,484

vs USD(Oz) 3,600 / 4,400

Middle East tensions have re-escalated, with Iran stating it has again closed the Strait of Hormuz. Oil prices remain choppy and unlikely to retreat significantly, strengthening expectations of further Fed rate hikes. Gold is forecast to range between US$3,900 and US$4,200 per ounce

 

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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