7 August 2025
Support / Resistance
vs USD 1.1436 / 1.1835 ⬆
EUR rose against the dollar yesterday due to a general weakness in the US Dollar as traders anticipated Fed rate cuts. In the Eurozone, Germany's Factory Orders softened, but Retail Sales improved, further supporting the Euro. EURUSD rose 0.73% yesterday while EURHKD ended at 9.15 level.
Support / Resistance
vs USD 1.3133 / 1.3583 ⬇
GBP strengthened against the dollar yesterday after falling last week. The BoE is expected to cut interest rates by 25 basis points today, lowering the rate to 4.0% from 4.25%. GBPUSD rose 0.44% yesterday while GBPHKD ended at 10.48 level.
vs USD 0.6404 / 0.6611 ⬇
Support / Resistance
AUD climbed against the dollar yesterday as a softening US labor market raised expectations for upcoming rate cuts by the Fed. RBA is also expected to lower interest rates, as softer domestic inflation reinforces the case for policy easing. AUDUSD rose 0.46% yesterday while AUDHKD ended at 5.10 level.
Support / Resistance
vs USD 0.5836 / 0.6040 ⬇
NZD rose against the US dollar yesterday despite unemployment in the New Zealand economy rose to 5.2%. Market now expect a 25 bps rate cut by the RBNZ this month and possible further easing. NZDUSD rose 0.47% yesterday while NZDHKD ended at 4.65 level.
Support / Resistance
vs USD 1.3582 / 1.3888 ⬇
CAD rose marginally against the US dollar yesterday as markets grew confident of a 25bps rate cut by the Fed in next meeting, following weak US ISM Services data. USDCAD fell 0.23% yesterday while CADHKD ended at 5.71 level.
Support / Resistance
vs USD 145.14 / 150.23 ➡
JPY rose against the dollar yesterday despite real wage growth slumped. Wages are currently around 4% lower than pre-pandemic levels, while uncertainty about U.S. tariffs affect the Japanese economy. USDJPY fell 0.17% yesterday while JPYHKD ended at 5.32 level.
Data source: Refinitiv, dated 7 August 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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