#forexbreakfast focus forex (eng)
Declining week for all safe-haven currencies such as the yen and the Swiss franc. The risk-on climate is due to the news regarding the Pfizer vaccineMixed week instead of for the dollar. Eur / Usd ended the week down at 1.1834. Uncertainty linked to Brexit, after the failure of the talks, was decisive for the euro. Despite the new defeat of negotiations, the pound closed higher against all major currencies. The rationale is that the UK should be among the first countries to receive the vaccine. Among the best currencies of the week, we have the Turkish lira. After having risen above 10, the Eur / Try exchange rate returned to area 9. Pending a rate hike by the Turkish Central Bank this week. The Mexican peso also rose for the week, after the central bank confirmed the 4.25% interest rate level.
Eur / Usd
The exchange ended the week lower, without any precise direction. For two months, the exchange has continued to trade in a range between 1.16 and 1.19. A break up of the level at 1.1860 where the bearish trendline passes, could project the exchange towards the 1.1920 level and then towards 1.20. On the downside, the most important support currently remains 1.16. A break of it could accelerate the bearish movement.
Eur / Gbp
On the back of the pound’s strength, the pair ended the week below 0.90, trying to test the support at 0.8873. The exchange rejected this level, returning to 0.90. On the upside, the resistance to monitor remains at 0.9030, where the bearish trendline of the daily chart passes. On the downside, the support at 0.8873 remains. A bearish move would only be possible with a breakout.
Eur / Yen
The week was up for the exchange rate that reached 125.27. The daily oscillator is being overbought. On the downside, for now, the most important supports are placed at 122.38 and 120.70