#forexbreakfast focus forex (eng)
Last week was marked by the volatile trend of the dollar, which in the first part of the week benefited from the announcement of the US infrastructure plan, the good performance of the vaccination campaign, and good macro data. The Eur / Usd exchange rate fell to 1.17 area, to its lowest level since November 2020. Over the weekend, however, the exchange rate reached 1.1750, benefiting from the positive climate and the pause in the rise in US rates. Other safe-haven currencies such as the yen and the Swiss franc also suffered from the positive stock market sentiment. Mixed trend for the emerging currency sector. Good week for the Chilean Peso who appreciated after the announcement that 55% of the population has now received the first dose of the vaccine.
Euro / Dollar
V-week for the Eur / Usd exchange which after hitting the lows since November 2020, then recovered closing in the 1.1750 area. At the moment the exchange rate is fixed in a range that goes from 1.1750 and 1.1810 and only a break of the two sides can give direction to the exchange. Oscillators signal an oversold situation.
Euro / Great Britain Pound
A fifth consecutive week down for the Eur / Gbp exchange rate which fell in the 0.85 zone. Media at 0.8466 and 0.83 should be monitored. On the upside, the 0.8580 area remains to be monitored. The oversold signaled by the oscillators portends a pause in the bearish movement.
Euro / Yen
Last week the Eur / Jpy exchange tried to go above 130 but was unable to do so. Should the resistance break, it would open the way to area 133.12. The downside supports to monitor are 128.92 and 129. The weekly oscillator is in overbought territory.