Forex Technicals

More Forex Technicals

CNH - Uptrend↗

Support / Resistance

vs HKD 1.1468 / 1.1691

vs USD 6.70 / 6.83

President Xi Jinping said after his summit with US President Donald Trump that bilateral ties will be framed as “managed competition” and “co-operative coexistence”, stressing the two countries should be partners rather than rivals. Any follow-on trade agreements or consensus would likely support the renminbi

 

EUR - Sideways➡

Support / Resistance

vs HKD 9.0860 / 9.2819

vs USD 1.16 / 1.19

President Trump dismissed Iran’s counterproposal as “garbage” and warned the ceasefire is “hanging by a thread”. The ongoing Middle East stalemate has lifted oil prices. Markets expect a potential US–China leaders’ meeting could ease regional tensions, supporting the euro

 

JPY - Uptrend↗

Support / Resistance

vs HKD 4.9263 / 5.0534

vs USD 155.00 / 159.00

Although BOJ board member Kazuyuki Masu supported keeping policy unchanged in April, he has recently shifted to a more hawkish view, saying rates should rise soon if the economy does not slow materially. Markets are watching Deputy Governor Ryozo Himino’s Saturday remarks, which could lift June hike expectations and support the yen

 

GBP - Sideways➡

Support / Resistance

vs HKD 10.4176 / 10.6526

vs USD 1.33 / 1.36

UK Health Secretary Wes Streeting resigned on Thursday and urged a leadership contest to unseat Prime Minister Keir Starmer. Markets fear leadership upheaval could undermine fiscal discipline. Heightened political uncertainty is therefore expected to keep sterling under pressure in the near term, with investors adopting a cautious stance

 

AUD - Uptrend↗

Support / Resistance

vs HKD 5.5613 / 5.7179

vs USD 0.71 / 0.73

Australia’s 2026/27 budget is expected to show a slightly narrower deficit and include significant housing tax reforms. However, inflation control remains primarily the RBA’s responsibility. Rate futures price an 80%+ chance of an August hike, with yield differentials likely supporting the Australian dollar

 

NZD - Sideways➡

Support / Resistance

vs HKD 4.5430 / 4.6997

vs USD 0.58 / 0.60

The RBNZ’s quarterly survey released on Wednesday further weakened market sentiment. It signals a difficult year ahead, with inflation expectations rising alongside interest rates and unemployment. With overall growth still subdued, the outlook is likely to constrain the New Zealand dollar in the near term

 

CAD - Sideways➡

Support / Resistance

vs HKD 5.6759 / 5.7383

vs USD 1.37 / 1.38

Canada’s April unemployment rate rose to 6.9%, the highest in six months, indicating a weakening labour market. Combined with rising momentum for an Alberta independence referendum and continued uncertainty around the USMCA outlook, these factors are likely to limit upside in the Canadian dollar

 

CHF - Uptrend↗

Support / Resistance

vs HKD 9.9149 / 10.1068

vs USD 0.78 / 0.79

Rising energy costs tied to the Middle East conflict lifted Switzerland’s annual inflation to 0.6% in April from 0.3% in March, slightly above the SNB’s average 0.5% annual forecast. While markets expect no policy change, firmer inflation continues to underpin the Swiss franc

 

XAU - Uptrend↗

Support / Resistance

vs HKD(Oz) 34,464 / 37,597

vs USD(Oz) 4,400 / 4,800

Rising Middle East tensions are increasing global inflation risks as US–Iran negotiations remain stalled. A prolonged conflict could keep oil prices elevated for longer. Expectations of sustained high energy costs have revived US dollar demand, contributing to a retreat in gold 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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