Will the euro, which has rebounded against the Australian dollar, continue to rise, or should we wait and see how it moves?

Will the euro, which has rebounded against the Australian dollar, continue to rise, or should we wait and see how it moves?

24.02.2026

In the U.S. currency market yesterday, the Canadian dollar fell against the yen. The CAD/JPY pair dropped from 113.279 to 112.693.The price has moved from above the 20-period moving average (MA) on the hourly chart to below it. On the 4-hour chart, the 200-period exponential moving average (EMA) looms overhead, weighing on the upside, while on the daily chart, the price is already trading below the 20-period MA. Meanwhile, on the weekly chart, the RSI has fallen from 72 to 54 and is currently pointing downward near the 58 level.

Among European currencies, the euro rebounded against the Australian dollar. The EUR/AUD pair rose from 1.6637 to 1.6729. It recovered from the -2σ to the +2σ levels on the hourly Bollinger Bands. On the 4-hour chart, the price is moving from below the 20-period moving average (MA) to above it, while on the daily chart, a downtrend along the 10-period MA has been continuing since late December of last year.

Today’s schedule includes the UK CBI Retail Trade Survey at 8:00 PM, remarks by US Federal Reserve Bank of Chicago President Goolsbee at 10:00 PM, the US Housing Price Index, the US S&P/Case-Shiller Home Price Index, and remarks by US Federal Reserve Bank of Atlanta President Bostic at 11:00 PM, and the UKremarks by Bank of England Governor Bailey, remarks by US Federal Reserve Governor Waller, remarks by US Federal Reserve Governor Cook at 11:30 PM, US Wholesale Inventories, US Richmond Fed Manufacturing Index, and US Conference Board Consumer Confidence Index at midnight, remarks by ECB President Lagarde at 2:45 AM, and a US 2-year Treasury auction at 3:00 AM.I’d like to wait and see how the euro, which rebounded against the Australian dollar, performs during European trading hours to determine if it can extend its gains.

Past Market Reports

1. 17.04.2026New

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

2. 16.04.2026New

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

3. 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

4. 14.04.2026New

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

5. 13.04.2026New

   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

6. 10.04.2026

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

7. 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?

8. 08.04.2026

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

9. 07.04.2026

   Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed