The best and the worst currency pairs: January 27-31

The best and the worst currency pairs: January 27-31

The week was tough for risky assets due to the outbreak of coronavirus. Let’s see which currency pairs showed the best and the worst performance.

The best-performers

Among the best-performing pairs this week we need to highlight the exotic currency pairs, including USD/ZAR, USD/BRL, and USD/RUB. All these pairs gained a lot during the week amid the outbreak of coronavirus, which provoked the outflow of the capital from the riskier assets.

If we look at the weekly chart of USD/BRL, we can see that the pair tested the highs of last November near the 4.3 level. The next week will show us whether the asset is going to renew its high. On the downside, we recommend paying attention to the 4.0509 level.

USDBRLWeekly.png

The award of the best-performing major currency pair goes to GBP/USD, which managed to stick above the 200-week MA in anticipation of the big Brexit day. Now, further key levels in bulls’ focus will lie at 1.3260-1.3380. If bears take over the market, the pair will slide below 1.2977. The next support will lie at 1.2860.

GBPUSDWeekly.png

The worst-performers

It’s not a surprise that the risk-off sentiment weakened some of the pairs. The biggest moves to the downside were by NZD/USD and AUD/USD. Both pairs were, of course, hurt by the outbreak of the virus. Plus, the Australian dollar got weaker in anticipation of the rate cut by the RBA.

At first, let’s have a look at AUD/USD. On the weekly chart, the pair weakened significantly during the last week and reached the lows of the last July at 0.6677. The next support will be placed at 0.6430. On the upside, we need to pay attention to the 0.6898 level (50-week MA). If it is broken, the further rise will be limited by the trendline and the 0.7 level.

AUDUSDWeekly.png

On the chart of NZD/USD, we can see that the pair was down by 119 pips within a week, targeting the support at 0.6425. The next support for the pair is placed at 0.6280. Bulls need to push the pair back to the 0.6695 level to take back their positions.

NZDUSDWeekly.png

The inflow into the safe-haven assets pulled USD/CHF lower against the previous week, as the pair nearly retested the lows at 0.9615. A key level from the upside is situated at 0.9760. By the way, this pair was also one of the most volatile assets during the previous week.

USDCHFWeekly.png

What will the next week bring to us? Follow the news and don't forget to 

LOG IN

Similar

Latest news

Deposit with your local payment systems

Learn more

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera