Euro Poised Near Key Levels, UK Gets New Finance Minister

Updated 10:43AM 14/02/2020

CAD and AUD are the top G10 FX gainers today, up 0.15% and 0.07% vs the dollar while SEK and NOK are the top losers, down -0.19% and -0.18% vs the dollar. Sterling jumped on news of the new British finance minister Rishi Sunak is market-friendly and may lower taxes and present an expansionary budget. Euro fell to an almost three-year low as the market was worried about eurozone growth ahead of the fourth-quarter data. In the Asian equities space, the Nikkei 225 closed -0.59% lower at 23,687.59, Hang Seng closed 0.31% at 27815.6 and Kospi ended 0.48% at 2243.59. The European equities were trading mixed with the FTSE -0.1% at 7444.42, DAX 0.12% at 13762.19, and CAC -0.2% at 6081.08. In the rates market, global yields were trading weaker; the US 10-year yield was trading at 1.5917% and the Bund 10-year yield trading at -0.398%. In the energy space, the Brent (front month) is trading up (0.21%) for the day at $56.46.


Economic Calendar


10-year Yields Daily Chart (6-month)


Daily FX Pivots


Brent Crude Daily Chart (1-month)


(Content and Data by Tradermade)


Forex Chart and Technical Analysis


EURUSD Chart (Two-week)


Strategy: Resistance at 1.0855 for 1.0790
Short-term view: EUR/USD resistance comes in at 1.0855, MACD crossover suggests a bearish bias and RSI is below 50. Hence we see a downside to 1.0790. Above 1.0855 to open 1.0876


GBPUSD Chart (Two-week)


Strategy: Support at 1.3019 for 1.3144
Short-term view: GBP/USD support comes in at 1.3019, MACD crossover suggests a bullish bias and RSI is above 50. Hence we see an upside to 1.3144. Below 1.3019 to open 1.2968


USDJPY Chart (Two-week)


Strategy: Resistance at 110.08 for 109.37
Short-term view: USD/JPY resistance comes in at 110.08, MACD crossover suggests a bearish bias and RSI is below 50. Hence we see a downside to 109.37. Above 110.08 to open 110.33.


AUDUSD Chart (Two-week)


Strategy: Resistance at 0.6741 for 0.6702
Short-term view: AUD/USD resistance comes in at 0.6741, MACD crossover suggests a bearish bias and RSI is below 50. Hence we see a downside to 0.6702. Above 0.6741 to open 0.6763

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