#forexbreakfast focus forex 29 June 2020
A stationary week with few major changes for the main currencies, only a little volatility due to operators’ concerns about the pandemic trend.Black week instead of for the currencies of Latin America, with Brazilian real and Argentine peso black shirts.In Brazil, the infected have reached 1.3 million people, ranking second after the United States. In Mexico, the number of infections has increased, but in this case, the disappointing macroeconomic data and the closure of the anointed states, the main commercial partner, penalized the Peso. With these data, the Mexican central bank has decided to cut the reference rate by 50bp.
In Turkey, the central bank has confirmed the rates by giving breath to the Turkish lira.
On the European front, the euro/dollar exchange rate canceled the rise at the beginning of the week; the pound sterling, which depreciated against the euro and the dollar, is also not good, due to the imminent expiry of the option to extend the transition period of Brexit.
The best currency ever was the Swedish krona ahead of the central bank meeting.
EUR / USD
Laterality week for the euro/dollar exchange rate, which failed to overcome any of the supports and resistances, relatively placed at 1.1150 and 1.1333.The levels to be monitored are 1.1429 and 1.1448, although there are no particular indications from the oscillators.
Eur / gbp
The break in the 0.90 area led to further upward pressure, reaching 0.9148. The break of this level could bring the exchange rate to 0.9325 level.
Eur / Yen
A week without news also for the euro/yen. After recording little volatility, the exchange rate returned above 120. Technically, the exchange rate went to retest the bearish trendline broken at the beginning of the month, remaining above it. The first level to be monitored is located in the 121.79 area and subsequently at 122.62