Foreign exchange rate forecasts on 24/10: British Pound, US Dollar, Euro, Aus Dollar

Modified: Friday, 25 October 2013 11:56 BST
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Euro dollar exchange rate forecasts

UBS:

"With bullish trend in place, the next major resistance focus is at 1.3833. There’s scope for a setback to unwind the overextended upside conditions from here, with support at 1.3742 ahead of 1.3651.

Emmanuel Ng at OCBC Bank:

"The EUR managed to end the day none the worse for wear despite global uncertainty and nascent worries that EZ authorities may be growing uncomfortable with recent EUR strength.

"Meanwhile, note that the ECB is also looking towards more stringent criteria for banks’ stress tests (a one year assessment period is expected to begin in November). For today look to the slew of EZ PMIs for further cues while we continue to expect a buy-dips posture to prevail for the pair. Near term resistance is expected towards 1.3825 while 1.3740 may offer initial support on dips."

Euro to pound exchange rate forecast

UBS:

"The recent recovery saw the cross close above 0.8500. This indicates scope for a prolonged recovery to 0.8551 and then 0.8603. Support is at 0.8484 ahead of 0.8431.

ICN Financial:

"After a minor pullback, the pair is pushing back towards the 61.8 retracement level at 0.8530, as the recent bullish wave continues to be intact. Thus, the bullish scenario remains favoured, and a break above the aforementioned resistance should confirm further upside."

Australian dollar vs US dollar forecast

UBS:

Only a close above the resistance at 0.9715 would be positive, triggering further acceleration. Next resistance is at 0.9792 ahead of 0.9920. Support is at 0.9576 ahead of 0.9463.

Sean Lee at FXWW:

"Picking the daily range will be the tricky part. I expect to see a downside test first, possibly as low as .9550 before stability returns and we could see the pair back near .9650 especially if AUD/JPY buyers return."