What is left for Europe? Between a sluggish stock market and a struggling single currency, our fellow citizens could legitimately be jealous of American investors. And the arrival of Donald Trump in power has only reinforced the predominant trend.
Hard, hard to counter the current bullish tide of the dollar. The euro has in fact paid the price for the victory of the Republican camp in the United States and is now flirting with the low points of last April at 1.0600, the last bastion before those of October 2023 at 1.0498/68. The first resistance is located around 1,078. For its part, the English cable has just hit its 200 stock market moving average, now resistance at 1.2887 opening the way for a continuation of the slide towards the April lows at 1.2300.
At the same time, theUSD/JPY and theUSD/CHF continued their progression without materializing the expected break and are now heading towards 156.84 and 0.8890 or even 0.9037 in extension.
L’USD/NOK has just collided with its peaks of May and last July around 11.15 for a trading range with 10.85 as support. Only a break of this level would make it possible to counterbalance the upward momentum underway since last September.
For its part, theUSD/CAD consolidates between 1.3959/75 and the support at 1.3834/18 which should be broken to open a consolidation worthy of the name. Conversely, crossing resistance will confirm the end of the consolidation underway since the end of 2022 and will open the way to 1.45. L'AUD/USD and the NZD/USD recorded new marginal lows but failed to reach their downside targets at 0.6493 and 0.5876. The presence of the first positive signs calls for caution on selling strategies which will be closed in the event of exceeding 0.6670 and 0.6020.
