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Should We Focus on the Upside Potential of the Euro/Australian Dollar Pair?

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Should We Focus on the Upside Potential of the Euro/Australian Dollar Pair?

24.03.2025

Today's Highlights
  1. Bostic (U.S.): Remarks by the President of the Atlanta Federal Reserve Bank
  2. Germany: Manufacturing/Non-Manufacturing PMI

Last weekend, the U.S. dollar rose against the euro. The EUR/USD pair fell from 1.0860 to 1.0797. The decline came after the pair hit resistance at the 200-period EMA on the hourly chart.On the 4-hour chart, the price has broken below the 75-period moving average (MA), which had appeared to be providing support, and on the daily chart, the uptrend along the 10-period MA has come to an end. We will need to monitor price movements during European trading hours to see if the U.S. dollar’s rally will continue.

Among European currencies, the euro rose against Oceania currencies.The EUR/AUD pair rose from 1.7196 to 1.7271. On the hourly chart, the price has moved from below the 20-period moving average (MA) to above it. On the 4-hour chart, the price is rebounding off the 20-period MA as a support level, and on the daily chart, a clean uptrend along the 10-period MA continues. It will be interesting to see if the euro can maintain this momentum.

Today, at 17:30, German Manufacturing/Non-Manufacturing PMI; at 18:00, Eurozone Manufacturing/Services PMI; at 18:30, UK Manufacturing/Services PMI; at 21:30, U.S. Chicago Fed National Activity Index;at 10:45 p.m., the U.S. PMI Purchasing Managers’ Index; at 2:45 a.m., remarks by Bostic, President of the Atlanta Fed; at 3:00 a.m., remarks by Bailey, Governor of the Bank of England; and at 3:10 a.m., remarks by Barr, Member of the Federal Reserve Board.We will be watching for further upside potential in the euro/Australian dollar pair, which has been rising.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has been involved in investment management focused primarily on foreign exchange markets and has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

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