Should we focus on the upside potential of the rising EUR/AUD pair?
24.03.2025
- Bostic (U.S.): Remarks by the President of the Atlanta Federal Reserve Bank
- Japan: 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 broke below the 75-period 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 watch price movements during European trading hours to see if the US dollar’s rise continues.
Among European currencies, the euro rose against the Australian dollar. The EUR/AUD pair climbed 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 20-period MA is acting 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 5:30 p.m., German Manufacturing/Non-Manufacturing PMI; at 6:00 p.m., Eurozone Manufacturing/Services PMI; at 6:30 p.m., UKmanufacturing and services PMIs, the US Chicago Fed National Activity Index at 9:30 PM, the US PMI Purchasing Managers’ Index at 10:45 PM, remarks by US Federal Reserve Bank of Atlanta President Bostic at 2:45 AM, remarks by UK Bank of England Governor Bailey at 3:00 AM, and remarks by US Federal Reserve Board Member Barr at 3:10 AM.We will be watching for further upside potential in the euro/Australian dollar pair, which has been rising.
Author: Keisuke Sakurai
