Forex Technicals

More Forex Technicals

JPY - Uptrend↗

Support / Resistance

vs HKD 4.8625 / 5.0032

vs USD 155.50 / 160.00

Japan’s Finance Minister, Satsuki Katayama, has issued a warning following the yen’s decline to its lowest point in nearly eighteen months, signalling possible direct market intervention. Concurrently, US Treasury Secretary Bessent has called on the Bank of Japan to implement prudent monetary policies to address excessive currency volatility. Market participants are now closely monitoring the likelihood of Bank of Japan intervention or an earlier-than-expected interest rate hike.

 

EUR - Uptrend↗

Support / Resistance

vs HKD 8.9859 / 9.2738

vs USD 1.16 / 1.19

Although the United States, Greenland, and Denmark did not reach an agreement in their recent discussions, all parties agreed to maintain ongoing dialogue. This has eased transatlantic relations and provided support for the euro. Furthermore, market expectations of further interest rate cuts by the Federal Reserve later this year, alongside diverging monetary policies between Europe and the US, are anticipated to favour the euro.

 

GBP - Sideways➡

Support / Resistance

vs HKD 10.3318 / 10.6197

vs USD 1.33 / 1.37

The United Kingdom has released a series of stronger-than-expected economic indicators, including November’s GDP and industrial production figures, which have provided support for sterling. However, market expectations of interest rate cuts by the Bank of England have limited the currency’s performance.

 

AUD - Uptrend↗

Support / Resistance

vs HKD 5.1348 / 5.3682

vs USD 0.66 / 0.69

Latest data indicates that Australian household spending has continued to grow since October last year. Consumer spending in the fourth quarter is likely to be robust, which may keep inflation elevated and reinforce market expectations of tighter monetary policy. Attention should be paid to the resistance level at 0.69 USD.

 

NZD - Uptrend↗

Support / Resistance

vs HKD 4.3568 / 4.6680

vs USD 0.56 / 0.60

The latest Global Dairy Trade auction shows the price index rebounded by 6.3%, ending a nine-month streak of declines. Additionally, international beef prices surged nearly 19% last year due to tighter supply. Persistently rising food prices may support the New Zealand dollar towards the next resistance level of 0.60 USD.

 

CAD - Sideways➡

Support / Resistance

vs HKD 5.5800 / 5.7000

vs USD 1.35 / 1.40

US President Trump stated that there are currently no plans for large-scale action against Iran, which has eased market concerns over the situation. As a result, oil prices dropped by more than 4%, limiting the performance of the Canadian dollar.

 

CNH - Uptrend↗

Support / Resistance

vs HKD 1.1035 / 1.1275

vs USD 6.90 / 7.05

The People’s Bank of China has decided to lower its re-lending and rediscount rates by 0.25 percentage points, and indicated that there remains some scope for further reserve requirement and interest rate cuts this year. While such measures would usually place depreciation pressure on the renminbi, the central bank can support the currency through foreign exchange reserve requirement adjustments. The impact on the renminbi was limited, reflecting market confidence in the currency’s orderly appreciation.

 

CHF - Sideways➡

Support / Resistance

vs HKD 9.6049 / 9.9744

vs USD 0.78 / 0.81

Recent global geopolitical risks and concerns over the independence of the Federal Reserve have increased safe-haven demand, supporting the Swiss franc. However, it is important to note that the Swiss National Bank stated last month it may intervene in the foreign exchange market if necessary to prevent excessive appreciation of the franc.

 

XAU - Uptrend↗

Support / Resistance

vs HKD(Oz) 33,454 / 37,344

vs USD(Oz) 4,300 / 4,800

President Trump’s remarks have eased market concerns about potential US military action against Iran, leading to a decline in safe-haven demand and causing gold prices to retreat slightly from historic highs. However, expectations of further interest rate cuts by the Federal Reserve and ongoing geopolitical uncertainty continue to support gold, with resistance at USD4,800.

 

Legends

Uptrend ↗  Sideways →  Downtrend ↘

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

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