Forex Technicals

More Forex Technicals

EUR - Sideways →

Support / Resistance

vs HKD 7.9316 / 8.2427

vs USD 1.02 / 1.06

The eurozone's trade surplus rose to 150.1 billion euros last year, and concerns about the US-European trade dispute are expected to continue to limit the euro. Technically, the resistance of the EUR/USD is around 1.06 on the 100-day moving average.

 

GBP - Uptrend ↗

Support / Resistance

vs HKD 9.6424 / 9.9534

vs USD 1.24 / 1.28

The UK's CPI climbed to 3% year-on-year in January, a 10-month high, which is expected to limit the Bank of England's room for a large interest rate cut. Technically, the British pound broke through the 50-day line, and the next resistance is at the 200-day line of about $1.28.

 

AUD - Uptrend ↗

Support / Resistance

vs HKD 4.7434 / 5.0545

vs USD 0.61 / 0.65

Australia's unemployment rate remained at 4.1% in January. Full-time employment increased by 54,100, reflecting a healthy job market and supporting the Reserve Bank of Australia's cautious interest rate cuts. Technically, the AUD/USD broke through the short-term average line, and the next resistance is 65 US cents.

 

NZD - Sideways →

Support / Resistance

vs HKD 4.2769 / 4.5101

vs USD 0.55 / 0.58

The RBNZ announced a 0.5% rate cut after its interest rate meeting on Wednesday, but the rate is expected to bottom out at 3.1% by the end of the year. The market is looking forward to the end of the rate cut cycle, which will help support the NZD. Technically, the next resistance for the NZD/USD is at the 100-day moving average of about 58 US cents.

 

CAD - Downtrend ↘

Support / Resistance

vs HKD 5.3628 / 5.5150

vs USD 1.41 / 1.45

Canada's CPI rose 1.9% year-on-year in January, remaining within the Bank of Canada's target range for six consecutive months, providing room for the central bank to cut interest rates. Technically, USD/CAD is supported at the 100-day moving average of about 1.41.

 

CNH - Uptrend ↗

Support / Resistance

vs HKD 1.0652 / 1.0800

vs USD 7.20 / 7.30

The year-on-year decline in the new home price index of 70 large and medium-sized cities in the Mainland narrowed to the smallest in nearly six months in January, reflecting the stabilization of the property market. Technically, USD/CNH is supported at the 100-day line of about 7.24.

 

CHF - Sideways →

Support / Resistance

vs HKD 8.4523 / 8.8365

vs USD 0.88 / 0.92

Germany will hold a parliamentary election on Sunday (23rd). Geopolitical concerns are expected to support short-term safe-haven demand for the Swiss franc.

 

XAU - Uptrend ↗

Support / Resistance

vs HKD 21,773 / 23,328

vs USD 2,800 / 3,000

The US and Ukrainian heads of state have been engaged in verbal disputes, casting a shadow on the negotiations to end the Russia-Ukraine conflict. Gold prices have slightly retreated from their highs. Technically, gold prices are on a bullish upward trend.

Legends

Uptrend ↗  Sideways →  Downtrend ↘

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

Provided by Hang Seng Investment Services Limited

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