Forex News
- USD/JPY forms hammer candle near support, hinting at potential recovery.
- Bearish RSI below neutral keeps sellers favored despite reversal signals.
- Break below 156.08 exposes 155.00, while 157.57 caps recovery attempts.
The Japanese Yen finished the week on a higher note as the USD/JPY pair registered losses of over 0.74% in the week, while holding firm daily amid a sour market mood. The pair trades at 156.85 as a ‘hammer candle pattern’ forms.
USD/JPY Price Forecast: Technical outlook
Price action is consistent for further sideways action, with the USD/JPY trapped within the 156.00-159.00, 300-pip range, with neither buyers nor sellers able to decisively clear immediate support and resistance levels, delineated by the range.
Momentum shifted bearish, with the 14-day Relative Strength Index (RSI) edging below its 50-neutral level, indicating that sellers are strengthening.
Therefore, the path of least resistance is downwards. The first support is the 156.50 psychological level. Beneath lies the October 23 daily low of 156.08 before sellers aim towards the 155.00 milestone. A breach of the latter will expose the September 8 swing low of 152.89.
Upward, the first USD/JPY resistance is the 50-day Simple Moving Average (SMA) at 157.57. On further strength, the next stop is the 100-day SMA at 158.50, followed by the 200-day SMA at 159.35.
USD/JPY Price Chart – Daily
Japanese Yen Price This week
The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies this week. Japanese Yen was the strongest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.15% | -0.46% | -0.77% | -0.81% | -1.12% | -0.74% | -0.14% | |
| EUR | 0.15% | -0.31% | -0.56% | -0.61% | -0.88% | -0.58% | 0.03% | |
| GBP | 0.46% | 0.31% | -0.25% | -0.30% | -0.56% | -0.26% | 0.41% | |
| JPY | 0.77% | 0.56% | 0.25% | -0.05% | -0.35% | 0.02% | 0.75% | |
| CAD | 0.81% | 0.61% | 0.30% | 0.05% | -0.29% | 0.09% | 0.71% | |
| AUD | 1.12% | 0.88% | 0.56% | 0.35% | 0.29% | 0.30% | 0.94% | |
| NZD | 0.74% | 0.58% | 0.26% | -0.02% | -0.09% | -0.30% | 0.66% | |
| CHF | 0.14% | -0.03% | -0.41% | -0.75% | -0.71% | -0.94% | -0.66% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).
- AUD/USD extends weekly gains, reclaiming 0.7000 and testing key resistance.
- Bulls challenge SMA confluence, with 0.7074 guarding further upside.
- Break above 0.7100 exposes 0.7150 and September high at 0.7237.
The Australian Dollar finished Friday’s session with gains of over 0.22% and the week up by more than 1.20%, with the pair reclaiming the 0.7000 figure and poised to test a confluence of key resistance levels within the 0.7000-0.7100 range. At the time of writing, the AUD/USD trades at 0.7035.
AUD/USD Price Forecast: Technical outlook
After climbing from around 0.6900 in mid-October to current exchange rates, the AUD/USD bias has turned bullish in the near term. Along with a constructive technical picture, expectations that the Reserve Bank of Australia (RBA) will increase rates again before next year, underpinned the Aussie.
From a technical perspective, buyers face key resistance at the 100-, 50- and 200-day Simple Moving Averages (SMAs), each at 0.7033, 0.751 and 0.7074, respectively. Once that area is cleared, a potential move towards 0.7100 is on the cards.
Above the next stop is the 0.7150 psychological level, followed by the September 9 daily high of 0.7237. A move beyond that level will expose the year-to-date (YTD) high of 0.7277.
On the flip side, the first support for AUD/USD is the 0.7000 level. Once hurdled, the next area of interest would become the October 15 cycle low of 0.6894.
AUD/USD Price Chart – Daily
Australian Dollar Price This week
The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies this week. Australian Dollar was the strongest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.15% | -0.46% | -0.77% | -0.81% | -1.12% | -0.74% | -0.14% | |
| EUR | 0.15% | -0.31% | -0.56% | -0.61% | -0.88% | -0.58% | 0.03% | |
| GBP | 0.46% | 0.31% | -0.25% | -0.30% | -0.56% | -0.26% | 0.41% | |
| JPY | 0.77% | 0.56% | 0.25% | -0.05% | -0.35% | 0.02% | 0.75% | |
| CAD | 0.81% | 0.61% | 0.30% | 0.05% | -0.29% | 0.09% | 0.71% | |
| AUD | 1.12% | 0.88% | 0.56% | 0.35% | 0.29% | 0.30% | 0.94% | |
| NZD | 0.74% | 0.58% | 0.26% | -0.02% | -0.09% | -0.30% | 0.66% | |
| CHF | 0.14% | -0.03% | -0.41% | -0.75% | -0.71% | -0.94% | -0.66% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote).
- USD/MXN falls to 18.66, but the Peso faces weekly losses exceeding 1%.
- Mexico's economic activity grows 3.3% annually, exceeding previous readings.
- December Fed hike odds reach 78% ahead of FOMC and PCE releases.
The Mexican Peso (MXN) appreciates about 0.30% on Friday against the US Dollar (USD), but it remains poised to end the week with losses of more than 1% even as risk appetite soured amid a potential escalation of the Middle East conflict. The USD/MXN pair trades at 18.66 after hitting 18.80.
USD/MXN retreats as resilient Mexican economic activity offsets geopolitical uncertainty ahead of Fed decision
The US-Iran conflict continues to escalate as US President Donald Trump said that “we may do another operation against Iran.” Meanwhile, the Islamic Revolutionary Guard Corps (IRGC) is attacking vessels using “illegal routes” in the Strait of Hormuz, while Houthi-Saudi exchanges of fire further deteriorated market sentiment.
In Mexico, economic activity rose 0.6% MoM in August, as measured by the Global Economic Activity Indicator. Annually, the print increased by 3.3%, with figures usually released ahead of Gross Domestic Product (GDP) data.
In the US, the University of Michigan Consumer Sentiment Index fell slightly to a five-month low of 48 in October, from 48.1, as energy prices rose and consumers expected the Federal Reserve (Fed) to keep rates higher for longer. Inflation expectations were unchanged but remained above the Fed’s 2% target: 4.7% over the next 12 months and 3.5% over five years.
US S&P Global PMIs showed manufacturing activity rising from 55.9 to 56 and services easing from 58.8 to 57.9, in line with analyst expectations.
Last week, US inflation data was hot on both the producer and consumer fronts, paving the way for further tightening by the Federal Reserve. Nevertheless, investors took a rate hike off the table for next week’s Fed meeting. But for December, the chances are 78%, according to Prime Terminal.
Next week, the US economic docket will feature the Federal Reserve’s monetary policy meeting, followed by the release of the Fed’s favorite inflation gauge, the Core Personal Consumption Expenditures (PCE) Price Index.
In Mexico, the schedule will feature the release of GDP figures on Friday.
USD/MXN Price Forecast: Technical outlook
In the daily chart, USD/MXN trades at 18.6532, extending its advance well above the clustered simple moving averages around 17.5753 and the former downtrend resistance now turned support near 14.8414. This positioning keeps the near-term bias bullish, with the pair holding comfortably over the horizontal floor at 16.8866. The Relative Strength Index (14) at 70.48 flirts with overbought territory, suggesting that while upside pressure remains dominant, the rally could be prone to bouts of consolidation or shallow corrective pullbacks.
On the downside, initial demand is seen at the grouped simple moving averages around 17.58, which reinforce the broader bullish structure, ahead of the horizontal support level at 16.89. Deeper setbacks would still find protection from the broken downward trend line anchored near 14.84. With no meaningful resistance levels immediately overhead in the current framework, price action may continue to probe higher levels as long as USD/MXN holds above the 17.58 support zone.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Mexican Peso FAQs
The Mexican Peso (MXN) is the most traded currency among its Latin American peers. Its value is broadly determined by the performance of the Mexican economy, the country’s central bank’s policy, the amount of foreign investment in the country and even the levels of remittances sent by Mexicans who live abroad, particularly in the United States. Geopolitical trends can also move MXN: for example, the process of nearshoring – or the decision by some firms to relocate manufacturing capacity and supply chains closer to their home countries – is also seen as a catalyst for the Mexican currency as the country is considered a key manufacturing hub in the American continent. Another catalyst for MXN is Oil prices as Mexico is a key exporter of the commodity.
The main objective of Mexico’s central bank, also known as Banxico, is to maintain inflation at low and stable levels (at or close to its target of 3%, the midpoint in a tolerance band of between 2% and 4%). To this end, the bank sets an appropriate level of interest rates. When inflation is too high, Banxico will attempt to tame it by raising interest rates, making it more expensive for households and businesses to borrow money, thus cooling demand and the overall economy. Higher interest rates are generally positive for the Mexican Peso (MXN) as they lead to higher yields, making the country a more attractive place for investors. On the contrary, lower interest rates tend to weaken MXN.
Macroeconomic data releases are key to assess the state of the economy and can have an impact on the Mexican Peso (MXN) valuation. A strong Mexican economy, based on high economic growth, low unemployment and high confidence is good for MXN. Not only does it attract more foreign investment but it may encourage the Bank of Mexico (Banxico) to increase interest rates, particularly if this strength comes together with elevated inflation. However, if economic data is weak, MXN is likely to depreciate.
As an emerging-market currency, the Mexican Peso (MXN) tends to strive during risk-on periods, or when investors perceive that broader market risks are low and thus are eager to engage with investments that carry a higher risk. Conversely, MXN tends to weaken at times of market turbulence or economic uncertainty as investors tend to sell higher-risk assets and flee to the more-stable safe havens.
OCBC strategists Christopher Wong and Sim Moh Siong describe South Korean Won's (KRW) initial strength and subsequent retracement as broader risk aversion resurfaced. The Bank of Korea’s decision to hold rates at 3% while retaining a tightening bias and calling KRW undervalued is seen as supportive. They expect further KRW recovery but prefer buying on dips, citing unsettled global technology sentiment and Oil prices as key risks.
BOK support but risk sentiment key
"KRW initially strengthened but subsequently pared gains overnight amid broader risk aversion. The BoK’s policy guidance had provided some support."
"While the decision to hold rates at 3% was widely expected, the central bank retained its tightening bias amid resilient growth and still-elevated inflation."
"Governor Shin’s assessment that KRW remains undervalued also offered some reassurance. The currency’s earlier resilience despite the equity selloff was also notable, although the overnight retracement suggests that global risk sentiment remains an important driver."
"We see room for further KRW recovery, supported by the BoK’s tightening bias and Korea’s strong export performance. However, we would be cautious about extrapolating recent gains while global technology sentiment remains unsettled."
"A continued recovery would be more convincing if foreign equity selling moderates. For now, we favour buying KRW on dips rather than chasing strength, with oil prices and global technology sentiment remaining key risks."
"Daily momentum is not indicating a clear bias while decline in RSI moderated. 2-way trades likely. Support at 1320. Resistance at 1335, 1343 (21 DMA). Sell rallies preferred."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
OCBC strategists Christopher Wong and Sim Moh Siong note Philippine Peso (PHP) remains under pressure even after a larger-than-expected 50bp Bangko Sentral ng Pilipinas (BSP) hike to 5.50%, reflecting persistent inflation concerns. Higher rates may temper depreciation but are unlikely to fully offset elevated Oil prices, external imbalances and domestic growth worries. OCBC keeps a cautious stance, saying a sustained PHP recovery needs lower Oil and a better external backdrop.
Rate hikes fail to lift Peso sentiment
"PHP remained under pressure despite BSP’s larger-than-expected 50bp rate hike to 5.50%. The decision reflects growing concerns over inflation persistence, with BSP raising its 2027 inflation forecast to 6% from 5.4%, amid elevated oil prices and potential El Niño-related food price pressures."
"We remain cautious on PHP. Higher rates may help temper depreciation pressure, but elevated oil prices, external imbalances and concerns over domestic growth remain constraints. Further tightening also comes at a cost to an already slowing economy."
"For now, a more sustained PHP recovery would likely require some easing in oil prices and an improvement in the broader external backdrop."
"Daily momentum is mild bullish while RSI enters into overbought conditions. 2-way trades near recent highs not ruled out. Immediate resistance at 63.65, 63.85 levels (recent high). Support at 63 levels (21 DMA), 62.65 (21 DMA)."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
- XAG/USD hits a fresh yearly low at $53.03, confirming bearish continuation.
- RSI approaches oversold territory as sellers maintain downward pressure.
- A break below $53.00 exposes $50.00, followed by $48.64 and $45.56.
Silver (XAG/USD) price downtrend extended on Friday, losing over 1% after hitting a new yearly low of $53.03, paving the way for sellers to challenge the $50.00 level in the foreseeable future. At the time of writing, XAG/USD trades near $54.00.
XAG/USD Price Forecast: Technical Outlook
The downtrend is poised to extend after Silver hit a new yearly low, opening the door to further downside. The Relative Strength Index (RSI) is bearish and about to become oversold, indicating that sellers are gaining strength as XAG/USD edges lower.
The first support is $53.50. A breach of the latter will expose the YTD low of $53.05, followed by $50.00. The next area of interest is the November 21, 2025, swing low at $48.64, before the precious metal challenges the October 28, 2025, swing low at $45.56.
For a bullish reversal, Silver must rise above $55.00. Once it clears that level, the next stop is the October 22 high of $58.02, followed by the $60.00 milestone.
XAG/USD Price Chart – Daily
Silver FAQs
Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
- Gold drops below $4,000, extending weekly losses to nearly 3.90%.
- WTI surges above $100 as Middle East hostilities intensify.
- December Fed hike odds reach 78% ahead of FOMC and PCE data.
Gold (XAU/USD) price prolongs its agony, tumbling by nearly 0.60% on Friday and poised to finish the week with losses as higher energy prices increase the chances that major central banks could tighten monetary policy to control inflation. At the time of writing, XAU/US floats near $4,000 after hitting a three-month low of $3,975.
XAU/USD is down nearly 4% weekly as surging energy prices reinforce global inflation risks
Bullion is set to lose almost 3.90% this week as the conflict in the Middle East escalates. Newswires reported that the US and Israel are getting ready to launch an attack on Iran after the US midterm elections, with the Islamic Revolutionary Guard Corps (IRGC) attacking shipping vessels transiting through “illegal routes” in the Strait of Hormuz. Also, the Houthis and Saudi Arabia are exchanging fire, adding to a sour market mood in the financial markets.
Data in the US were mixed, with consumer sentiment deteriorating while business activity expanded.
The University of Michigan Consumer Sentiment Index fell to a five-month low in October, from 48.1 to 48, ignited by higher energy prices and expectations that the Federal Reserve (Fed) will keep rates higher for longer. Inflation expectations remained unchanged from the previous report, though they are above the Fed’s 2% target. Consumers see inflation over the next 12 months at 4.7% and for a 5-year period at 3.5%.
S&P Global unveiled the preliminary Services and Manufacturing Purchasing Managers’ Index (PMI) for the US, which showed that manufacturing activity improved from 55.9 to 56 in October, while the services cooled from 58.8 to 57.9, as expected by analysts.
Meanwhile, geopolitics are underpinning Oil prices, with West Texas Intermediate (WTI), the US crude benchmark, climbing over 4% and back above the $100 threshold. Hence, expectations that energy prices will continue to remain high increase the odds that the Federal Reserve will hike rates to bring inflation to the 2% target.
Despite this and last week’s red-hot consumer and producer inflation, money markets had taken a rate hike off the table for next week’s Fed meeting. But for December, the chances are 78%, according to Prime Terminal.
Next week, the US docket features the Fed’s meeting on Tuesday and Wednesday, followed by the release of the Fed's preferred inflation gauge, the core Personal Consumption Expenditures (PCE) Price Index on Thursday.
XAU/USD technical analysis: Gold sellers breach $4,000, up next is $3,900
Gold price is trading around the $4,000 level after sellers pushed bullion to a three-month low of $3,975. However, buyers are opposing resistance, pushing the yellow metal toward $4,000.
Despite this, a tug of war between bulls and bears favors the latter. First, the market structure of successive lower highs and lower lows remains intact, and momentum favors further downside, with the RSI (14) eyeing a test of oversold territory.
For a bearish continuation, the first support for XAU/USD is the day's low at $3,975. Below the next stop is the July 17 low at $3,959 and the year-to-date (YTD) low at $3,941.
On the upside, bulls must reclaim $4,10 which would expose the $4,200 mark. Once surpassed, the next stops are the 100-day Simple Moving Average (SMA) at $4,224, the 50-day SMA at $4,302, and $4,500.
Gold FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
Commerzbank’s Charlie Lay and Dr. Henry Hao highlight that the Bank of Korea (BoK) kept its policy rate at 3.00% after two prior hikes, but delivered a clearly hawkish message. Strong semiconductor exports underpin higher growth expectations and rising inflation pressures. The authors note KRW strength since June and expect USD/KRW to consolidate in a 1300–1350 range near term.
BoK pause keeps tightening bias
"BoK said it now expects GDP growth in 2026 and 2027 to be “considerably higher” than its August forecasts of 3.3% and 2.9%, respectively, but did not provide new numbers. This was due to robust semiconductor exports and investment. There were no changes to the inflation forecasts."
"BoK expects inflation to stay around the August forecast of 2.3% for 2026 and 2.5% for 2027. It expects core inflation to strengthen in 2027, reflecting persistent cost pressures and strengthening domestic demand. Overall, the decision to stay on hold should be seen as a pause rather than the end of the tightening cycle."
"More importantly, BoK expects these gains to increasingly feed through to household incomes and private consumption, broadening the recovery beyond the export sector and adding to underlying inflation pressures."
"BoK left the door open for a 25bp hike either in November or December this year. The upcoming Q3 GDP release, October inflation data and November economic projections will be important inputs."
"For FX, BoK's hawkish stance is providing some support for KRW, alongside the large current account surplus. USD/KRW was slightly lower yesterday at around 1,326. Since the end of June, KRW has strengthened by nearly 17% vs USD. We look for consolidation in the near term between 1300-1350."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
- EUR/USD remains under pressure as a firmer US Dollar and France’s fiscal concerns weigh on the Euro.
- The weekly chart retains a bearish bias as the pair trades below key moving averages.
- RSI approaches oversold territory, with the 200-week SMA emerging as key support.
EUR/USD trades on the back foot on Friday as the US Dollar (USD) regains some ground alongside US Treasury yields following Thursday’s decline. France’s fiscal concerns add pressure on the Euro (EUR), while traders look ahead to next week’s Federal Reserve (Fed) and European Central Bank (ECB) interest rate decisions.
At the time of writing, the pair trades around 1.1190, down 0.22% on the day. Meanwhile, the US Dollar Index (DXY), which tracks the Greenback's value against a basket of six major currencies, trades around 101.82 after touching a three-week low of 101.45 on Thursday.
Fed and ECB seen pausing now but primed for December rate hikes
Economists at Commerzbank argue that “the Fed and the ECB thus have good reasons to pause in October, not least to gain more clarity on the economic and geopolitical conditions.” Looking ahead, they expect policy tightening to resume, with the bank judging that “in December, however, both central banks are likely to respond to persistently high inflation and raise interest rates—as priced in by the futures markets—by 25 basis points.” Commerzbank stresses that this guidance is not without caveats, adding that “the forecast for the ECB is contingent on the situation in the French government bond market not escalating.”
Technical analysis: Weekly chart
EUR/USD holds marginally above the 200-week Simple Moving Average (SMA) at 1.1105 but remains below the 50-week SMA at 1.1585 and the 100-week SMA at 1.1379, leaving sellers in control..
The pair also trades below the 38.2% Fibonacci retracement at 1.1355 and the 23.6% retracement at 1.1634, reinforcing a topside cap, while the Relative Strength Index (RSI) at 34 hovers just above oversold territory and the Moving Average Convergence Divergence (MACD) remains negative, both suggesting persistent, though not extreme, selling pressure within a modest trend environment indicated by the Average Directional Index (ADX) around 20.
On the downside, initial support emerges near the 50.0% Fibonacci retracement at 1.1130, closely followed by the 200-week SMA at 1.1105, with deeper bearish extension exposing the 61.8% retracement at 1.0905 and the 78.6% level at 1.0585 before the structural floor around the 100.0% retracement at 1.0177.
On the topside, a first hurdle is seen at the 38.2% Fibonacci retracement at 1.1355, ahead of the 100-week SMA at 1.1379, while a more meaningful recovery would require a weekly close above the 50-week SMA at 1.1585 and the 23.6% retracement at 1.1634, which together define a dense resistance band capping the broader rebound.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Euro Price This week
The table below shows the percentage change of Euro (EUR) against listed major currencies this week. Euro was the strongest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.07% | -0.45% | -0.74% | -0.83% | -1.12% | -0.74% | -0.11% | |
| EUR | 0.07% | -0.35% | -0.65% | -0.72% | -0.96% | -0.64% | -0.01% | |
| GBP | 0.45% | 0.35% | -0.29% | -0.36% | -0.58% | -0.29% | 0.40% | |
| JPY | 0.74% | 0.65% | 0.29% | -0.08% | -0.39% | -0.00% | 0.75% | |
| CAD | 0.83% | 0.72% | 0.36% | 0.08% | -0.30% | 0.13% | 0.77% | |
| AUD | 1.12% | 0.96% | 0.58% | 0.39% | 0.30% | 0.31% | 0.97% | |
| NZD | 0.74% | 0.64% | 0.29% | 0.00% | -0.13% | -0.31% | 0.68% | |
| CHF | 0.11% | 0.01% | -0.40% | -0.75% | -0.77% | -0.97% | -0.68% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
United Overseas Bank strategists (UOB) Quek Ser Leang and Lee Sue Ann note that USD/SGD was little changed on Thursday, trading in a narrow band as safe-haven flows and Oil gains supported the US Dollar against Asian currencies. Their short-term view sees modest downside within 1.2755–1.2780, while the 1–3 week outlook stays negative toward 1.2750 as long as 1.2795 caps.
Modest downside while capped below resistance
"24-HOUR VIEW: After USD traded within a tight 1.2771/1.2783 range two days ago, we indicated yesterday that “the price action provides no fresh clues.” We also indicated that USD “could trade between 1.2765 and 1.2785.” USD then traded within a slightly wider range of 1.2762/1.2785, closing unchanged at 1.2774. There has been a slight increase in downward momentum, but it is insufficient to indicate a sustained decline. Today, USD could edge lower, but any decline should stay within a 1.2755/1.2780 range."
"1-3 WEEKS VIEW: We turned negative on USD early this week. In our most recent narrative from Wednesday (21 Oct, spot at 1.2780), we highlighted that “downward momentum has increased further, and USD could decline to 1.2750.” Although USD has traded in a quiet manner since then, we will continue to hold the same view as long as USD holds below 1.2795 (‘strong resistance’ level previously at 1.2805)."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
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