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Should We Keep an Eye on the Upside Potential for the Euro-Australian Dollar Pair, Which Has Surged?

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Should We Keep an Eye on the Upside Potential for the Euro-Australian Dollar Pair, Which Has Surged?

04.04.2025

Today's Highlights
  1. New Orders in Germany's Manufacturing Sector
  2. Canada: Employment Statistics

In the U.S. currency market yesterday, the Canadian dollar fell against the yen after Canada’s February international merchandise trade figures, released yesterday, came in lower than expected at -1.52 billion CAD, down from 3.97 billion CAD the previous month. The CAD/JPY pair fell from 104.876 to 103.293.The decline occurred as the pair encountered resistance at the 75-period moving average (MA) on the hourly chart. On the 4-hour chart, the candlesticks have fallen to the -2σ level of the Bollinger Bands, and on the daily chart, the price has shifted from above the 20-period MA to below it.

European currencies rose, with the euro gaining against the Australian dollar after yesterday’s release of the Eurozone’s February Producer Price Index (PPI), which showed a year-over-year increase of 3.0%, up from 1.8% the previous month.The EUR/AUD pair rose from 1.7203 to 1.7528, with the rally tracking the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the pair has surged to the +3σ level of the Bollinger Bands. As it has continued to hit new highs during today’s Asian trading session, we will be watching for further gains in the euro during European trading hours.

Today’s economic indicators include the Japan Household Expenditure Survey at 8:30, Germany’s New Manufacturing Orders at 15:00, France’s Industrial Production and Manufacturing Production Index at 15:45, and the UK’sConstruction PMI, at 21:30: Canada’s Employment Statistics and U.S. Employment Statistics, at 24:25: Remarks by Fed Chair Powell, at 25:00: Remarks by Fed Governor Barr, and at 25:45: Remarks by Fed Governor Waller.We’ll be watching for upside potential in the Euro/Australian Dollar pair, which has surged sharply.

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 with a particular focus on foreign exchange markets, and also has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

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