25 July 2025
Support / Resistance
vs USD 1.1609 / 1.1844 ⬆
EUR fell against the dollar yesterday after less than expected US jobless claims caused US rate cut uncertainty. The Eurozone PMIs improved but manufacturing stays in the contraction zone while the ECB keeps rates unchanged. EURUSD fell 0.19% yesterday while EURHKD ended at 9.22 level.
Support / Resistance
vs USD 1.3361 / 1.3657 ⬇
GBP fell against the dollar after US jobless claims unexpectedly fell. Meanwhile, UK layoffs are on the rise according to flash PMIs, which supports the BoE's August rate cut forecast. GBPUSD fell 0.53% yesterday while GBPHKD ended at 10.60 level.
Support / Resistance
vs USD 0.6487 / 0.6658 ⬆
AUD fell against the dollar yesterday after the dollar regained loss ground after the US-Japan deal and nearing another with the EU while RBA's hawkish remarks raised doubts about August rate cut. AUDUSD fell 0.18% yesterday while AUDHKD ended at 5.17 level.
Support / Resistance
vs USD 0.5932 / 0.6092 ⬆
NZD weakened against the dollar yesterday as the dollar firmed on falling jobless claims and improved US business activity. Meanwhile, markets priced in a 75% chance of a rate cut by the Reserve Bank of New Zealand at its meeting on 20th August. NZDUSD fell 0.28% yesterday while NZDHKD ended at 4.73 level.
Support / Resistance
vs USD 1.3549 / 1.3750 ⬆
CAD fell against the dollar yesterday as May retail sales declined, indicating weakening domestic demand. However, the fall was limited as markets remained calm, expecting the Bank of Canada to hold its 2.75% rate next week amid inflation pressures. USDCAD rose 0.30% yesterday while CADHKD ended at 5.75 level.
Support / Resistance
vs USD 144.41 / 149.39 ⬇
JPY fell against the dollar yesterday despite US-Japan trade deal rekindles expectations of additional monetary policy tightening by the BoJ this year. The greenback attracts bids ahead of the flash US PMI data for July. USDJPY rose 0.34% yesterday while JPYHKD ended at 5.33 level.
Data source: Refinitiv, dated 25 July 2025 before 9:30 am
‘Support level’ is the level where the exchange rate tends to find support as it is going down i.e. market participants tend to see value at these levels and price is more likely to bounce up rather than go lower.
‘Resistance level’ is the level where it tends to find resistance as it is going up i.e. market participants tend to consider this as a ceiling and prevent prices from going up further.
We derive the support and resistance level using ‘Pivot Points’ which takes into account the high, low and close prices in the prior period of 15 days. *Please note that the indicative support and resistance level are given for general reference only. Customers should not rely on this information to buy or sell currency.
Relative Strength Index (RSI): Is a technical momentum indicator that compares the magnitude of recent gains to recent losses in an attempt to determine overbought and oversold conditions of an asset. The scale is 0 - 100 and typically overbought conditions are indicated by readings >70 and oversold conditions when <30.
Moving average: Is an indicator frequently used in technical analysis showing the average value of a currency’s price over a set period. Moving averages are generally used to measure momentum and define areas of possible support and resistance. Moving averages are used to emphasize the direction of a trend and to smooth out price and volume fluctuations, or ‘noise’, that can confuse interpretation.
Moving Average Convergence Divergence (MACD) : is a type of oscillator that can measure market momentum as well as follow or indicate the trend. The convention for the MACD analysis is to use an Exponential Moving Average (EMA). MACD consists of two lines, the MACD Line and the Signal Line. The MACD Line measures the difference between a short moving average and a long moving average. The Signal Line is a moving average of the MACD Line.
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