#forexbreakfast focus forex (eng)
The driver of the past week was the almost generalized strength of the dollar. The Eur / Usd exchange rate fell below 1.18. The strength of the dollar is due to the renewed climate of market uncertainty. news of worsening on the pandemic front and new restrictions in Europe. The worst currency of the week is again the Turkish lira after Erdogan decides to replace the governor of the central bank. Not even the intervention of the new governor was able to curb the depreciation of the currency. No rate hikes are currently expected. The second worst currency of the week is the real, after some rumors that the government is willing to breach the debt ceiling. The renewed tensions between the US, Europe, and Russia penalized the ruble. The Mexican peso appreciates. The Polish Zloty also dropped, with the exchange rate with the Euro rising above 4.60, the highest since 2009. Good opening instead for the Pound, with the news of partial reopening.
Eur / Usd
The Eur / Usd exchange rate falls again, breaking the 1.1837 level. At the moment it is going to test the 1.1756 level, where the uptrend line passes. Oscillators begin to signal a strong oversold, likely a rebound in the next few sessions. To the upside 1.1892 remains to be monitored.
Eur / Gbp
A fourth week down for the exchange rate against the pound, which came close to the 0.85 area. On the downside area, 0.8466 remains to be monitored. If this support were exceeded, the way would be opened for area 0.83.
Euro / Yen
The picture remains unchanged from last week. The exchange failed to break above 129.38. The weekly oscillator has been overbought for some time. The downside 128.90 area remains to be monitored.
Eur / Brazilian
Real An uphill week for the exchange rate with the Brazilian Real, which recorded its largest rise in two months. If the resistance at 6.82 were broken, the way would be opened for area 7, the area of historical highs. Downside 6.52 remains to be monitored.