All Eyes on Whether the Euro, Which Rebounded Against the Oceania Currencies, Will Continue to Rise

All Eyes on Whether the Euro, Which Rebounded Against the Oceania Currency, Will Continue to Rise

08.05.2025

In the U.S. currency market yesterday, the Federal Open Market Committee (FOMC) kept the policy interest rate unchanged and stated that “the economy continues to expand at a solid pace,” causing the U.S. dollar to reach its strongest level around the time of the announcement. The EUR/USD pair fell back from 1.1378 to 1.1293.On the hourly chart, the price has moved from above to just below the 20-period moving average (MA). On the 4-hour chart, candlesticks have fallen from the +2σ to the -2σ levels of the Bollinger Bands, and on the daily chart, the price is currently testing a break below the 20-period MA support line.

Among European currencies, the euro rebounded against the Oceania currencies.The EUR/AUD pair rose from 1.7386 to 1.7621. On the hourly chart, the price moved from the -3σ to the +2σ levels of the Bollinger Bands. On the 4-hour chart, the pair rebounded just below the 20-period moving average (MA), and on the daily chart, the upper end of the 75-period MA served as a support level, causing the candlestick to reverse.

Today, the UK RICS House Price Index will be released at 8:01, the minutes of the BOJ meeting at 8:50, German industrial production at 15:00, the German trade balance at 15:00, and at 20:00, the UKthe BOE’s policy rate and statement, South Africa’s manufacturing output at 20:00, a press conference by BOE Governor Bailey at 20:30, U.S. initial jobless claims and the U.S. nonfarm labor productivity index at 21:30, U.S. wholesale inventories at 23:00,at 24:00, remarks by BOC Governor Macleam; and at 26:00, a U.S. 30-year Treasury auction. We’ll be watching closely to see if the euro, which rebounded against the Oceania currencies, will continue to rise.