21 Mar 2025
Support / Resistance
vs USD 1.0503 / 1.1077 ⬆
EUR ended lower against the dollar yesterday as euphoria over the passing of Germany's spending package continues to fade while the USD strengthened across the board. Focus moves to Eurozone consumer confidence later today. EURUSD fell 0.48% yesterday while EURHKD ended at 8.43 level.
Support / Resistance
vs USD 1.2686 / 1.3127 ⬆
GBP ended lower yesterday against a broadly stronger US dollar. The sterling pared some losses briefly after the BoE held interest rates at 4.5%. But warned against assumptions that rates would be cut over the next meeting. GBPUSD fell 0.28% yesterday while GBPHKD ended at 10.08 level.
vs USD 0.6193 / 0.6398 ➡
AUD ended lower against the US dollar yesterday on soft jobs data. Data showed Australian employment unexpectedly fell in Feb although the jobless rate stayed unchanged, matching market expectations. AUDUSD fell 0.85% yesterday while AUDHKD ended at 4.89 level.
Support / Resistance
vs USD 0.5621 / 0.5861 ⬆
NZD ended weaker against the US dollar yesterday. New Zealand's economy grew faster than forecast. However, market reaction to the GDP data was muted and is unlikely to change RBNZ's cash rate track. NZDUSD fell 0.98% yesterday while NZDHKD ended at 4.47 level.
Support / Resistance
vs USD 1.4194 / 1.4497 ⬆
CAD ended marginally higher against the US dollar. The CAD had fallen to six-day lows after small business confidence tumbled. But recouped losses after oil prices rose and investors weighed comments from BoC governor. USDCAD fell 0.01% yesterday while CADHKD ended at 5.42 level.
Support / Resistance
vs USD 146.43 / 151.22 ➡
JPY ended slightly lower against the US dollar yesterday after the Bank of Japan left rates unchanged and warned of heightening global economic uncertainty. However, markets are pricing in a BOJ rate hike at its Jun meeting. USDJPY rose 0.06% yesterday while JPYHKD ended at 5.22 level.
Data source: Refinitiv, dated 21 Mar 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.
This information is only for a reference and does not represent recommendation from HSBC for customer to buy or sell based on the information provided.Customer should not rely on the views or information expressed in this document solely to make investment decisions. HSBC shall not be held liable for damages arising out of any person’s reliance upon this information. Customer should make his/her buy and sell decision based on his/her own view. Also, past performance is not indicative of future performance.
This document is not and should not be construed as an offer or the solicitation of an offer or a recommendation for the purchase or sale of any investment or subscribe for, or to participate in, any services. The information contained in this document has not been reviewed in the light of your personal financial circumstances. You should carefully consider whether any investment views and investment products are appropriate in view of your investment experience, objectives, financial resources and relevant circumstances and make investment decisions on your own.
The contents of this document are subject to change without notice. Some of the information in this document is derived from third party sources as specified at the relevant places where such information is set out. The Bank believes such information to be reliable but it has not independently verified.
You SHOULD NOT reproduce or further distribute the contents of this document to any person or entity, whether in whole or in part, for any purpose.
Issued by HSBC Bank (China) Company Limited
