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Market News Forex Market Watch: Analysis of the EUR, AUD and JPY foreign exchange market
Forex Market Watch: Analysis of the EUR, AUD and JPY foreign exchange market
The daily chart of the euro fluctuated slightly above 1.0470 and closed up slightly. The overall downward momentum has not been reversed. We are temporarily looking at the low level and weak finishing; the Australian dollar is finishing near the current low area of 0.6940, but the rebound is not strong; the hourly chart of the yen briefly probed above 131.30 and then fell back. or there is still further downside;
2022-05-11
8174
Currency: EUR/USD
Resistance Level 2: 1.0630
Resistance 1: 1.0580
Spot price: 1.0531
Support bit 1: 1.0500
Support bit 2: 1.0470
There was no new news overnight, and the risk market fell by inertia. The euro, by contrast, held steady, possibly related to the EU dropping its oil ban on Russia. Last Wednesday, the European Commission announced the draft of the sixth round of sanctions against Russia. It plans to gradually stop the import of crude oil from Russia within 6 months and by the end of this year. However, Hungary failed to agree to the grace period given by the EU, and Greece and other countries are using its flag to fly. There are concerns about the transfer of Russian oil by ships. The daily chart fluctuated above 1.0470 and closed up slightly. The overall downward momentum has not been reversed. The 4-hour chart is slightly higher above 1.0470, but the upward momentum is not strong. The hourly chart fluctuated higher and remained in the low range. If there is no major news to stimulate the day, the currency pair is expected to remain in a narrow range.
Currency: AUD/USD
Resistance Level 2: 0.7056
Resistance Level 1: 0.7000
Spot price: 0.6941
Support bit 1: 0.6900
Support bit 2: 0.6850
The Australian dollar fell sharply yesterday, fell below the 0.7000 mark and refreshed a 22-month low. The exchange rate is now trading around 0.6980. In addition to the fact that the US dollar index refreshed to a 20-year high under the support of multiple positive factors, which was the main reason for the pressure on the Australian dollar, the risk aversion in the market was lingering. important factor in the decline. On the daily chart, the Australian dollar against the US dollar has fallen below the 0.70 integer mark, the exchange rate is far below the short-term moving averages, and the technical indicators diverge downwards, continuing to demonstrate the weak market. The hourly chart is organized around the current low area of 0.6940, but the rebound is not strong. Due to the recent ebb in commodity prices, it is necessary to beware of the Australian dollar being implicated in a downward trend.
Currency: USD/JPY
Resistance Level 2: 131.35
Resistance 1: 130.60
Spot price: 130.41
Support bit 1: 129.53
Support bit 2: 128.62
Bank of Japan Governor Shinichi Uchida said on Tuesday that there is no plan to expand the tolerance range for the long-term interest rate target, adding that expanding the range is tantamount to raising interest rates and is bad for the economy. The BOJ dove is firmly hovering over the BOJ and continues to be an important factor weakening the yen. However, Uchida Shinichi also said that he will pay attention to the volatility of the yen. Japanese Finance Minister Shunichi Suzuki also said that he will communicate closely with the G7 to deal with the rapid weakening of the yen. The daily chart showed signs of being blocked near the previous high of 131.24, but the overall upward momentum remained unchanged if it remained above the 20-day moving average. The 4-hour chart was blocked above 131.30 and fell, and the short-term focus on MA100 support. The hourly chart briefly tested above 131.30 and then fell back, or there is still room for further downside. During the day, pay attention to the support of the 130.20 water level. If it falls below the pullback trend, it is expected to test the support near 128 first.
Personal views only, do not represent the views of the organization
Bank of China Guangdong Branch Wang Gang Source: Bank of China official website
Resistance Level 2: 1.0630
Resistance 1: 1.0580
Spot price: 1.0531
Support bit 1: 1.0500
Support bit 2: 1.0470
There was no new news overnight, and the risk market fell by inertia. The euro, by contrast, held steady, possibly related to the EU dropping its oil ban on Russia. Last Wednesday, the European Commission announced the draft of the sixth round of sanctions against Russia. It plans to gradually stop the import of crude oil from Russia within 6 months and by the end of this year. However, Hungary failed to agree to the grace period given by the EU, and Greece and other countries are using its flag to fly. There are concerns about the transfer of Russian oil by ships. The daily chart fluctuated above 1.0470 and closed up slightly. The overall downward momentum has not been reversed. The 4-hour chart is slightly higher above 1.0470, but the upward momentum is not strong. The hourly chart fluctuated higher and remained in the low range. If there is no major news to stimulate the day, the currency pair is expected to remain in a narrow range.
Currency: AUD/USD
Resistance Level 2: 0.7056
Resistance Level 1: 0.7000
Spot price: 0.6941
Support bit 1: 0.6900
Support bit 2: 0.6850
The Australian dollar fell sharply yesterday, fell below the 0.7000 mark and refreshed a 22-month low. The exchange rate is now trading around 0.6980. In addition to the fact that the US dollar index refreshed to a 20-year high under the support of multiple positive factors, which was the main reason for the pressure on the Australian dollar, the risk aversion in the market was lingering. important factor in the decline. On the daily chart, the Australian dollar against the US dollar has fallen below the 0.70 integer mark, the exchange rate is far below the short-term moving averages, and the technical indicators diverge downwards, continuing to demonstrate the weak market. The hourly chart is organized around the current low area of 0.6940, but the rebound is not strong. Due to the recent ebb in commodity prices, it is necessary to beware of the Australian dollar being implicated in a downward trend.
Currency: USD/JPY
Resistance Level 2: 131.35
Resistance 1: 130.60
Spot price: 130.41
Support bit 1: 129.53
Support bit 2: 128.62
Bank of Japan Governor Shinichi Uchida said on Tuesday that there is no plan to expand the tolerance range for the long-term interest rate target, adding that expanding the range is tantamount to raising interest rates and is bad for the economy. The BOJ dove is firmly hovering over the BOJ and continues to be an important factor weakening the yen. However, Uchida Shinichi also said that he will pay attention to the volatility of the yen. Japanese Finance Minister Shunichi Suzuki also said that he will communicate closely with the G7 to deal with the rapid weakening of the yen. The daily chart showed signs of being blocked near the previous high of 131.24, but the overall upward momentum remained unchanged if it remained above the 20-day moving average. The 4-hour chart was blocked above 131.30 and fell, and the short-term focus on MA100 support. The hourly chart briefly tested above 131.30 and then fell back, or there is still room for further downside. During the day, pay attention to the support of the 130.20 water level. If it falls below the pullback trend, it is expected to test the support near 128 first.
Personal views only, do not represent the views of the organization
Bank of China Guangdong Branch Wang Gang Source: Bank of China official website
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