6 Jun 2025
Support / Resistance
vs USD 1.1243 / 1.1570 ⬆
EUR rose against the dollar yesterday as the USD eased against major peers. The ECB cut interest rates again this year, while hinting at a pause when it said it was now well-positioned to cope with global economic uncertainty. EURUSD rose 0.25% yesterday while EURHKD ended at 8.98 level.
Support / Resistance
vs USD 1.3340 / 1.3706 ⬆
GBP rose against the US dollar yesterday and remains well-supported by Britain’s persistent above-target inflation. The BoE will meet on Jun 19 to deliver its next policy decision with market bets firmly on the MPC keeping rates steady. GBPUSD rose 0.12% yesterday while GBPHKD ended at 10.65 level.
Support / Resistance
vs USD 0.6416 / 0.6563 ⬆
AUD ended higher against the US dollar yesterday. PM Albanese said Australia will not relax its strict biosecurity rules during tariff negotiations with the US ahead of a potential meeting with Trump at the G7 summit this month. AUDUSD rose 0.22% yesterday while AUDHKD ended at 5.10 level.
Support / Resistance
vs USD 0.5903 / 0.6121 ⬆
NZD ended stronger against the US dollar yesterday as the USD eased after data showed weekly jobless claims rose for a second straight week .The Kiwi dollar advanced as tensions between Washington and Beijing eased. NZDUSD rose 0.13% yesterday while NZDHKD ended at 4.73 level.
Support / Resistance
vs USD 1.3546 / 1.3889 ⬆
CAD ended marginally higher against the US dollar yesterday after touching its strongest level since Oct. Higher oil prices lent support to CAD. USDCAD fell 0.02% yesterday while CADHKD ended at 5.73 level.
Support / Resistance
vs USD 141.65 / 145.83 ⬆
JPY ended lower against the US dollar yesterday. Japan's chief tariff negotiator, Ryosei Akazawa, is in Washington for a fifth round of talks with US officials, including Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick. USDJPY rose 0.53% yesterday while JPYHKD ended at 5.46 level.
Data source: Refinitiv, dated 6 Jun 2025 before 9:30 am
‘Support level’ is the level where the exchange rate tends to find support as it is going down i.e. market participants tend to see value at these levels and price is more likely to bounce up rather than go lower.
‘Resistance level’ is the level where it tends to find resistance as it is going up i.e. market participants tend to consider this as a ceiling and prevent prices from going up further.
We derive the support and resistance level using ‘Pivot Points’ which takes into account the high, low and close prices in the prior period of 15 days. *Please note that the indicative support and resistance level are given for general reference only. Customers should not rely on this information to buy or sell currency.
Relative Strength Index (RSI): Is a technical momentum indicator that compares the magnitude of recent gains to recent losses in an attempt to determine overbought and oversold conditions of an asset. The scale is 0 - 100 and typically overbought conditions are indicated by readings >70 and oversold conditions when <30.
Moving average: Is an indicator frequently used in technical analysis showing the average value of a currency’s price over a set period. Moving averages are generally used to measure momentum and define areas of possible support and resistance. Moving averages are used to emphasize the direction of a trend and to smooth out price and volume fluctuations, or ‘noise’, that can confuse interpretation.
Moving Average Convergence Divergence (MACD) : is a type of oscillator that can measure market momentum as well as follow or indicate the trend. The convention for the MACD analysis is to use an Exponential Moving Average (EMA). MACD consists of two lines, the MACD Line and the Signal Line. The MACD Line measures the difference between a short moving average and a long moving average. The Signal Line is a moving average of the MACD Line.
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