#forexbreakfast focus forex (eng)
The principal protagonist was the dollar last week. Throughout the week it was characterized by high volatility, closing with an almost generalized decline. The Eur / Usd exchange rate reached 1.2245 after disappointing macro data. It only returned to decline at the weekend after good US PMI data and on the heels of the minute Fed. Fed member Harker said there should be a return to tapering cuts. Good week for the Pound which has been appreciated almost generally. However, the Eur / Gbp exchange rate closed almost unchanged. Good macro data dictated the good performance of the pound, signaling the recovery after the reopening. Bad week for the Chilean weight on which the defeat of the ruling party weighed, which did not get even a third of the votes to be able to control the work for the constitutional convention. Real bad too, penalized by sales on raw materials. Among the best currencies of the week are the South African rand, after the announcement by the BC of possible rate hikes and the Polish Zloty, on which there are fears of rate hikes after the data on wages, at their highest since 2008 and production prices at their highest since 2012.
Euro / Dollar
Tepid week for the Eur / Usd exchange rate which reached new highs since January. However, the track from the weekend brought the exchange below the resistance at 1.2184. The latter resistance will be placed under observation. On the upside, the resistances to be monitored are those at 1.2285 and 1.2330. On the downside, the support at 1.2096 remains to be monitored. At 1.1940, the bullish channel that started in March 2020 passes. In the event of a break, it would open the way for 1.1738.
Euro / Pound Sterling
Consolidation week around 0.86 per Eur / Gbp. The indications remain the same as in the past week. On the downside, only the break of the support at 0.8560 would give the exchange the downside force for further descent. On the upside, resistance at 0.87 remains to be monitored.
Euro / Yen
After hitting new highs since 2018, the bullish force on the Eur / Jpy exchange rate stopped after 4 weeks. Resistance at 133.12 contained the strength to the upside. The oscillators are all overbought. The general trend remains upward. only a break of the support at 130 prime and then at 128.83 could reverse the trend.