#forexbreakfast focus forex (eng)
The first part of last week was marked by the weakness of the dollar. The Eur / Usd exchange rate reached 1.2350 pending the electoral outcome in Georgia. Outcome sanctioned the victory of the Democrats, who also conquered the Senate. The Eur / Usd exchange rate in the wake of this result returned towards 1.2150. Thanks to the majority in both the House and the Senate, the new Biden administration should find no further difficulties in applying the new stimulus plan. Positive sentiment penalized all safe-haven currencies, including the Yen that has depreciated against almost all other currencies. Bad week for the pound That reacted negatively to the new restrictions. Eur / Gbp exchange rate returned above 0.90. The worst currencies of the week are the Real and the South African Rand. The latter currency was penalized by the new variant of the virus in circulation. Recovery week for the ruble that has benefited from the rise in the price of oil. The Turkish lira returns to depreciate in the wake of the higher than expected current account deficit. The Yuan also has depreciated on fears of a restart of the epidemic.
Eur / Usd
The exchange touched its high for the period last week, reaching 1.2350. This morning the exchange is back below 1.22. Currently, there may be profit-taking, given the high level of overbought. As long as the exchange rate remains above the 1.2010 / 1.2066 threshold, the primary trend will remain bullish. The reference level remains at 1.2350 and subsequently 1.2414.
Eur / Gbp
Last week, the exchange rate against the pound returned above 0.90 due to the epidemiological situation. The oscillators remain in the neutral area for now. The first bearish support is at 0.8872. On the upside, however, at 0.9162.
Eur / Rand
Bad week for the South African rand. Situation due to the epidemiological situation.
The Eur / Rand exchange rate came close to 19. The daily oscillator signals a strong overbought. To observe. The first resistance to the upside at 19, then at 19.31 / 19.55. On the downside, there are two supports at 18.30 and 17.74.