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Last week there was a generalized appreciation of the euro, with acceleration after the ECB council, in which the central bank showed a slight optimism on the prospects for recovery. He also stated that the PEPP program may not be used in full. The eur / usd exchange rate returned to the 1.22 area. The eur / gbp exchange rate dropped to 0.8830, after the ECB meeting it returned to the 0.89 area. Appreciation remains limited by the prospects of new lockdowns and disappointing macro data. Among the worst currencies of the week, we have the real, which despite the start of vaccinations, suffered from the effects of the Brazilian variant of the virus. The meeting of the Brazilian central bank ended with nothing. A week in decline for the ruble in the wake of fears of new sanctions against Russia. Almost neutral the week for the Turkish lira. Rates remain at 17%. There remains the will to leave them like this for an extended time, to fight inflation.

Eur / Usd

As highlighted last week, given the oversold situation, the exchange bounced back to the 1.22 area. At the moment, the lateral trend seems to be confirmed. On the downside, the resistance of the support at 1.20 is important. A break of that support could accelerate the bearish move. On the upside, to 1.2285 a new resistance level has been created. A little above is the high of the year at 1.2350. The bearish trendline that started at the end of 2009 also passes on the same level.

Eur / Gbp

As previously written, the exchange touched the 0.8830 level, before closing just below 0.89. Past movements have confirmed the importance of the support at 0.8872, which has resisted all bearish movements since September. A breakout could lead to further declines. The daily oscillator is oversold, so it does not rule out any upswing in the next few sessions. The first resistance level is at 0.9048, then there are those at 0.9144 / 62.

Eur / real

Bad week for the real which has depreciated against almost all currencies. The eur / Brl exchange rate canceled last week’s decline. The oscillators are regaining strength, so further upside is not excluded. On the upside, the 6.85 level should monitor, close to the all-time high of 6.79. That could be the goal of the bullish movement.

Eur / Rub

After almost reaching the support at 88.76, the exchange regained strength as it passed area 91. The sideways phase that holds the exchange between the aforementioned support and the resistance at 94.66 seems confirmed.

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