#forexbreakfast focus forex (eng)
The volatility of the dollar, which after an initial depreciation, closed the week with an almost generalized appreciation, in a risk-off context, characterized the week just passed. The Eur / usd exchange rate, after having moved towards 1.2250, in the wake of the good German data and the words of Powell, has tracked towards the 1.2050 area. The risk-off climate caused by the rise in interest rates strengthened the dollar. The volatile week also for the pound, which in exchange with the euro after arriving in the 0.85 area closed the week in the 0.8570 area. The rise in US rates penalized emerging currencies, the Turkish lira and the South African rand in particular. This morning the more positive climate is benefiting the Turkish lira, which also benefits from the easing of measures. The Australian dollar also appreciated despite the central bank’s decision to double QE purchases.
Eur / Usd
Very volatile week for the Eurodollar exchange. Which remained in the levels indicated above. Oscillators seem to support the thesis of a bearish phase. To corroborate this thesis, however, a break of the support at 1.20 is necessary. Otherwise, it may rebound in the 1.2285 area.
Eur / Gbp
After hitting new lows for over a year, the exchange broke the decline that had lasted for over 4 weeks. The unpredictable fort last week has made its effects felt. By preventing the exchange from closing below 0.8623. only a close below this threshold could bring the exchange rate towards 0.83. On the upside, the first resistance passes by 0.87.
Euro / Yen
The exchange with the Japanese currency has made it mark new highs since 2018, reaching 130. Oscillators have been overbought for a week now. On the downside, the support to be monitored remains at 127.50. If this support were broken, a reversal of the movement would not be excluded.
Euro / Try
The Turkish lira was the worst currency of the week. The exchange rate with the euro recorded an increase of 6.2% from August 2018. However, the bullish movement stopped at the resistance at 9.05. The medium-term oscillator signals a strong oversold, so a return of bullish strength cannot be ruled out. On the downside, the 8.45 area remains to be monitored.