28 Mar 2025
Support / Resistance
vs USD 1.0703 / 1.0926 ➡
EUR strengthened against the dollar yesterday, ending six day declining streak. ECB Vice President Luis de Guindos said a trade war with the US could have a fleeting impact on euro zone inflation but a far more detrimental effect on economic growth. EURUSD rose 0.44% yesterday while EURHKD ended at 8.39 level.
Support / Resistance
vs USD 1.2864 / 1.3020 ⬆
GBP rose against the US dollar yesterday recovering from the previous session's fall. FM Rachel Reeves said that Britain was working to secure an exemption from U.S. auto tariffs and could review subsidies offered to Tesla to better support its industry. GBPUSD rose 0.47% yesterday while GBPHKD ended at 10.07 level.
vs USD 0.6243 / 0.6377 ⬇
AUD ended higher against the US dollar yesterday as the USD eased against major peers. The Reserve Bank of Australia continues to lean cautiously dovish, awaiting more clarity on inflation before deciding on further easing. AUDUSD rose 0.10% yesterday while AUDHKD ended at 4.89 level.
Support / Resistance
vs USD 0.5666 / 0.5822 ➡
NZD ended stronger against the US dollar as China’s Vice Premier Ding Xuexiang announces plans for more proactive macroeconomic policies this year. These statements have provided a boost to risk sentiment, benefiting the NZD. NZDUSD rose 0.19% yesterday while NZDHKD ended at 4.46 level.
Support / Resistance
vs USD 1.4184 / 1.4472 ⬆
CAD fell against the US dollar yesterday after Trump unveiled hefty tariffs on autos. Canada Prime Minister Mark Carney called a cabinet meeting to weigh a response, with retaliatory counter measures a possibility. CAD losses were limited by a rise in oil. USDCAD rose 0.27% yesterday while CADHKD ended at 5.43 level.
Support / Resistance
vs USD 147.98 / 152.67 ➡
JPY ended weaker against the US dollar yesterday. The potential negative impact of auto tariffs on Japan growth may also be driving yen weakness. Focus will be on Tokyo CPI and release of BOJ summary of opinions for its Mar policy meeting. USDJPY rose 0.32% yesterday while JPYHKD ended at 5.14 level.
Data source: Refinitiv, dated 28 Mar 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.
This information is only for a reference and does not represent recommendation from HSBC for customer to buy or sell based on the information provided.Customer should not rely on the views or information expressed in this document solely to make investment decisions. HSBC shall not be held liable for damages arising out of any person’s reliance upon this information. Customer should make his/her buy and sell decision based on his/her own view. Also, past performance is not indicative of future performance.
This document is not and should not be construed as an offer or the solicitation of an offer or a recommendation for the purchase or sale of any investment or subscribe for, or to participate in, any services. The information contained in this document has not been reviewed in the light of your personal financial circumstances. You should carefully consider whether any investment views and investment products are appropriate in view of your investment experience, objectives, financial resources and relevant circumstances and make investment decisions on your own.
The contents of this document are subject to change without notice. Some of the information in this document is derived from third party sources as specified at the relevant places where such information is set out. The Bank believes such information to be reliable but it has not independently verified.
You SHOULD NOT reproduce or further distribute the contents of this document to any person or entity, whether in whole or in part, for any purpose.
Issued by HSBC Bank (China) Company Limited
