#forexbreakfast focus forex (eng)
The last week has been a great week for the dollar that has appreciated against all major currencies, except the Mexican peso. The macro data have been overall positive. After falling towards 1.18, the Eur/Usd exchange rate rose to 1.1870 after the data on the US labor market. The dollar has penalized all emerging currencies, real, Philippine peso and ruble are the worst currencies of the week. The uncertainty surrounding the OPEC + meeting weighed heavily on the ruble. The best currency of the week was the Turkish Lira. The central bank has decided to increase the reserves in liras in proportion to the increase in foreign exchange reserves. Good week for the Mexican peso too. The resumption of infections penalized the currencies of some Asian countries, such as the Philippine peso and the Thai baht.
The short-term bearish trend has been confirmed, after the breaking of the lower part of the bullish channel that lasted from March 2020. Resistances to monitor on the upside: 1.1941 and 1.2159. While on the downside the support at 1.1738 is confirmed.
Still low volatility for the Eur / Gbp exchange rate that has closed the week just below 0.86. The first resistances to monitor are at 0.8609 and the subsequent ones at 0.87 and 0.8791. On the downside, to monitor there are 0.8530 and 0.8472.
The loss of strength of the uptrend continues. Only this week will we see if prices break the uptrend line. On the upside, the first resistances to monitor are at 133.23 and 134.40. On the downside, however, to monitor there are the supports at 131.07 and subsequently 128.83.