Currency forecast: the question of raising the “ceiling” of the US national debt has not yet been resolved
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The House of Representatives of the US Congress approved the Republican Party’s proposal to raise the “ceiling” of the US national debt by $1.5 trillion. However, this decision is yet to be considered in the Senate. It is unlikely that it will be possible to quickly reach a consensus, since together with the increase in the “ceiling” it is assumed that defense spending will be reduced. Such a step has a large number of opponents in the Senate, which is why uncertainty in the markets remains. This was reported by RoboForex analyst Andrei Goilov.
Chart of the currency pair EURUSD, D1.
In the EURUSD pair, support was formed at 1.0833, and resistance at 1.1069. At the moment, further strengthening of the EUR to 1.1134 is expected, where the formation of a new resistance level and price consolidation is possible. If the US dollar is fixed at 1.0974, it will be able to strengthen to 1.0755. However, the most likely scenario is the weakening of the USD.
Chart of currency pair USDCHF, D1.
In the USDCHF currency pair, the resistance level has now moved to 0.9121, and the support is located at 0.8861. If fixed above 0.9118, the dollar will rise to the level of 0.9346. Otherwise, it may weaken to 0.8775.
Chart of currency pair AUDUSD, D1.
In the currency pair AUDUSD, the resistance level is formed at the level of 0.6697, and support has not yet been formed. It is possible that the US dollar will strengthen to 0.6435. A signal for its weakening can be a fixation below the level of 0.6619.
Chart of currency pair USDJPY, D1.
A resistance level of 134.75 was formed in the currency pair USDJPY. At the moment, the USD is aiming to reach the level of 132.02. For this, it is necessary to gain a foothold below the level of 133.87.
Chart of currency pair GBPUSD, D1.
In the currency pair GBPUSD, support was formed at the level of 1.2324, and resistance at 1.2526. When the resistance level is broken, the pound will be able to reach the level of 1.2642.
Chart of currency pair NZDUSD, D1.
A support level of 0.6109 was formed in the NZDUSD currency pair. Resistance is at 0.6169. In the event of a breakdown of the resistance level, the US dollar may weaken to 0.6086.
Chart of currency pair USDCAD, D1.
In the USDCAD currency pair, a support level appeared at 1.3358. Resistance has not yet been formed. If the price is fixed above the level of 1.3554, the growth of the US dollar to 1.3605 is likely. An unexpected strengthening of the CAD can begin in the case of an increase in oil prices.
Source: Ministry of Finance
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