Attention is turning to the direction of European currencies, which are showing weakness against Oceania currencies

Attention is turning to the direction of European currencies, which are showing weakness against Oceania currencies

28.12.2022

Yesterday, the U.S. dollar showed strength against European currencies. The EUR/USD pair fell back from 1.0669 to 1.0611. However, on the daily chart, the pair remains just above the 10-day moving average (MA) in a range-bound pattern, with no clear direction emerging. On the 4-hour chart, the 75-day MA is acting as support, and the price is beginning to form a slightly higher low; therefore, we will be watching closely to see how the U.S. dollar performs during U.S. trading hours.

Among European currencies, the euro weakened against Oceania currencies. Although the EUR/AUD pair traded within a range of 1.5738 to 1.5821, it has been forming lower highs, indicating that its upward momentum is waning. During today’s Asian session, the EUR/AUD pair has been testing lower levels. Since a triple top pattern has formed on the 4-hour chart, traders should be cautious of a potential decline heading into the U.S. session.

Today, at 4:00 PM CET, Swedish household loans and the Swedish trade balance will be released,at 6:00 PM, the Swiss Investor Confidence Index; at 8:00 PM, Brazilian employment figures; at 8:30 PM, Indian money supply; at 9:00 PM, South African trade balance; and during U.S. trading hours at 12:00 AM, pending home sales and the Richmond Fed Manufacturing Index; and at 3:00 AM, the U.S. 5-year Treasury auction.We will be watching the direction of European currencies, which are trading weaker, against the backdrop of Oceania currencies gaining strength due to rising crude oil prices.

Past Market Reports

1. 21.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

2. 20.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

3. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

4. 16.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

5. 15.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

6. 14.04.2026

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

7. 13.04.2026

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

8. 10.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

9. 09.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

10. 08.04.2026

    Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?