Forex Technicals

More Forex Technicals

AUD - Uptrend↗

Support / Resistance

vs HKD 5.4041 / 5.6390

vs USD 0.69 / 0.72

Markets are monitoring US–Iran negotiations over the next few days and remain concerned that oil prices could edge higher if blockade measures continue. If talks stall, the Australian dollar is likely to remain range-bound; a meaningful breakthrough, however, could lift it above US$0.72

 

EUR - Sideways➡

Support / Resistance

vs HKD 9.0851 / 9.3201

vs USD 1.16 / 1.19

US Treasury Secretary Bessent said on Wednesday that the sanctions waiver for Russia’s seaborne crude exports will be extended by 30 days. With the Druzhba pipeline to Central and Eastern Europe back in operation, some European crude demand pressures may ease, although persistently high oil prices continue to constrain the euro

 

JPY - Sideways➡

Support / Resistance

vs HKD 4.8950 / 4.9727

vs USD 157.50 / 160.00

Ongoing Middle East tensions and elevated oil prices are adding to Japan’s economic headwinds, leading the Bank of Japan to temper its hawkish tone and highlight downside risks to the outlook. The BoJ is expected to hold policy steady at next Tuesday’s meeting, which could keep the yen on the softer side

 

GBP - Sideways➡

Support / Resistance

vs HKD 10.4949 / 10.7298

vs USD 1.34 / 1.37

A UK business activity survey published on Thursday indicated that firms’ input costs posted the steepest quarterly rise in 28 years. With the Middle East conflict likely to push inflation higher, business sentiment has deteriorated, which could put downward pressure on sterling

 

NZD - Sideways➡

Support / Resistance

vs HKD 4.5034 / 4.6992

vs USD 0.58 / 0.60

Moody’s followed Fitch on Wednesday by revising New Zealand’s rating outlook from *stable* to *negative*, citing recent shocks that have increased the debt burden and added pressure to the fiscal outlook. This shift may act as a headwind for the New Zealand dollar

 

CAD - Sideways➡

Support / Resistance

vs HKD 5.5800 / 5.7000

vs USD 1.36 / 1.39

Ontario’s representative to the US, Patterson, said that higher costs driven by steep tariffs will place significant pressure on US businesses, and that the US–Canada trade supply chain is critical to both sides. He expressed confidence that an agreement can be reached with the US within this year, which should support the Canadian dollar

 

CNH - Uptrend↗

Support / Resistance

vs HKD 1.1269 / 1.1518

vs USD 6.80 / 6.95

Markets continue to look for a path to de-escalation in the Middle East, with persistent uncertainty providing near-term support for the US dollar. By contrast, China appears less vulnerable to oil-price shocks, and its economic resilience is expected to support renminbi appreciation over the medium to long term

 

CHF - Uptrend↗

Support / Resistance

vs HKD 9.8640 / 10.1058

vs USD 0.78 / 0.79

SNB Governor Schlegel said uncertainty around Switzerland’s inflation outlook remains high, and noted that a rapid, excessive appreciation of the Swiss franc could threaten price stability. He signalled a greater willingness to intervene in FX markets and to adjust policy if required, which should support the franc

 

XAU - Uptrend↗

Support / Resistance

vs HKD(Oz) 36,027 / 39,160

vs USD(Oz) 4,600 / 5,000

US President Trump said on Tuesday he would be disappointed if Warsh, upon taking over as Federal Reserve Chair, did not cut rates immediately. Warsh also called for institutional reforms at the Fed, adding to uncertainty around US monetary policy and likely supporting further strength in 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

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