Forex Technicals

More Forex Technicals

JPY - Uptrend

Support / Resistance

vs HKD 5.0823 / 5.2540

vs USD 148.00 / 153.00

In Japan, February service inflation rose 3% YoY, reflecting rising costs and reinforcing rate hike expectations from the Bank of Japan, which could support the yen. The USD/JPY faces resistance at the 100-day MA near 153, with support at 148.

 

EUR - Sideways

Support / Resistance

vs HKD 8.3202 / 8.5535

vs USD 1.07 / 1.10

Germany's Ifo business climate index continued to rise to 86.7 in March, a nearly 8-month high, which is expected to help support the euro. Support for EUR/USD is at 1.07 at the 200-day moving average.

 

GBP - Uptrend

Support / Resistance

vs HKD 9.9532 / 10.2642

vs USD 1.28 / 1.32

The UK Chancellor cut welfare spending by 6 billion pounds in the Spring Budget, which may further ease market concerns about the debt. Resistance for GBP/USD is around 1.32.

 

AUD - Uptrend

Support / Resistance

vs HKD 4.8211 / 5.0543

vs USD 0.62 / 0.65

Australia's CPI rose 2.4% year-on-year in February, providing room for the Reserve Bank of Australia to cut rates. Interest rate futures predict that the Bank  will cut interest rates as early as July. Resistance for AUS/USD is around 65 cents.

 

NZD - Sideways

Support / Resistance

vs HKD 4.4323 / 4.5878

vs USD 0.57 / 0.59

S&P forecasts minimal impact from U.S. trade measures on New Zealand and some regional economies, which should support the NZD. Resistance for NZD/USD is around the 200-day MA at approximately 0.5900.

 

CAD - Downtrend

Support / Resistance

vs HKD 5.3627 / 5.5148

vs USD 1.41 / 1.45

Canada is a major source of imported automobiles for the United States and is expected to be more affected by automobile tariffs. Resistance for USD/CAD is at the upper Bollinger Band around 1.45.

 

CNH - Uptrend

Support / Resistance

vs HKD 1.0652 / 1.0800

vs USD 7.20 / 7.30

Vice Prime Minister spoke with the U.S. Trade Representative. Both sides believed that maintaining a stable economic and trade relationship between China and the United States is in the interests of both countries and agreed to continue communication. Support for USD/CNH is around 7.2.

 

CHF - Sideways

Support / Resistance

vs HKD 8.5449 / 8.9378

vs USD 0.87 / 0.91

The Swiss National Bank cut rates by 25 basis points to 0.25%, considering U.S. tariff uncertainties. Low-interest rates may pressure the Swiss franc.

 

XAU - Uptrend

Support / Resistance

vs HKD 22,550 / 24,883

vs USD 2,900 / 3,200

The U.S. has imposed a 25% tariff on all imported cars, escalating trade dispute concerns. This, along with tensions in the Red Sea and Gaza, may boost golds safe-haven appeal. Resistance for gold is seen at $3,200.

Legends

Uptrend ↗  Sideways →  Downtrend ↘

Pertaining to historical trend technical analysis only and do not reflect any forecasts.

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