The week of February 23–27, 2026 was dominated by European macro releases. Monday’s Ifo Business Climate and Wednesday’s GfK Consumer Confidence both came in weaker, reinforcing the ongoing softness in Eurozone sentiment. Friday delivered a dense block of regional German CPI prints along with the main Eurozone inflation figure, creating elevated volatility across EUR pairs. In contrast, the US calendar was light, with the traditional Thursday Jobless Claims cluster providing the only meaningful impulse for USD. AUD weakened after mixed inflation data, while GBP and JPY traded without major domestic catalysts.
Below is the sentiment and technical outlook for the key currency pairs.
🇪🇺🇺🇸 EURUSD — Sentiment: -1 (Mildly Bearish)
Fundamental Outlook
Eurozone data weighed on EUR throughout the week. Monday’s Ifo Business Climate and Wednesday’s GfK Consumer Confidence both missed expectations, signaling persistent weakness in business and consumer sentiment. Friday’s regional CPI prints were mixed, and although the main Eurozone inflation rate came in slightly above expectations at 2.1% YoY, it was not enough to shift the broader narrative. USD gained modest support from Thursday’s stronger‑than‑expected Jobless Claims.
The pair remains pressured by the relative weakness of the Eurozone economy.
Technical Outlook
Swing support: 1.0760, 1.0700 Swing resistance: 1.0920, 1.1000
Intraday support: 1.0810, 1.0785 Intraday resistance: 1.0880, 1.0910
🇬🇧🇺🇸 GBPUSD — Sentiment: 0 (Neutral)
Fundamental Outlook
The UK had no major data releases this week, leaving GBP to follow broader USD sentiment. The dollar strengthened slightly after Thursday’s Jobless Claims, but otherwise the pair traded in a stable range. With no domestic catalysts, GBPUSD was driven primarily by technical flows and US data.
Technical Outlook
Swing support: 1.2530, 1.2460 Swing resistance: 1.2720, 1.2800
Intraday support: 1.2580, 1.2555 Intraday resistance: 1.2660, 1.2690
🇺🇸🇯🇵 USDJPY — Sentiment: +1 (Mildly Bullish)
Fundamental Outlook
JPY had no significant domestic releases this week. The pair was driven by risk sentiment and Thursday’s US Jobless Claims, which came in better than expected. Stable equity markets and a mildly stronger USD supported upside in USDJPY, while the lack of Japanese catalysts kept JPY on the defensive.
Technical Outlook
Swing support: 148.20, 147.40 Swing resistance: 150.10, 150.80
Intraday support: 148.90, 148.60 Intraday resistance: 149.70, 150.00
🇬🇧🇯🇵 GBPJPY — Sentiment: +1 (Mildly Bullish)
Fundamental Outlook
With no major UK or Japanese data, GBPJPY traded primarily on risk sentiment. Stable global markets and mild USD strength supported GBPJPY throughout the week. The pair maintained a constructive tone as JPY remained weak across the board.
Technical Outlook
Swing support: 186.20, 185.40 Swing resistance: 188.60, 189.40
Intraday support: 186.90, 186.50 Intraday resistance: 187.80, 188.20
🇦🇺🇺🇸 AUDUSD — Sentiment: -1 (Mildly Bearish)
Fundamental Outlook
AUD came under pressure after Wednesday’s inflation data. While trimmed mean and weighted median CPI matched expectations, the headline CPI print disappointed. The results did not suggest any need for policy tightening from the RBA, which weighed on AUD. USD strength after Thursday’s Jobless Claims added to the downside.
Technical Outlook
Swing support: 0.6480, 0.6420 Swing resistance: 0.6620, 0.6680
Intraday support: 0.6510, 0.6485 Intraday resistance: 0.6570, 0.6595
🇪🇺🇬🇧 EURGBP — Sentiment: -1 (Mildly Bearish)
Fundamental Outlook
Weak Eurozone data (Ifo, GfK) and the absence of UK releases tilted sentiment in favor of GBP. Friday’s Eurozone CPI beat was not strong enough to reverse the trend. EURGBP continued to drift lower as EUR underperformed relative to GBP.
Technical Outlook
Swing support: 0.8460, 0.8420 Swing resistance: 0.8560, 0.8600
Intraday support: 0.8485, 0.8470 Intraday resistance: 0.8520, 0.8540
🇺🇸🇨🇦 USDCAD — Sentiment: 0 (Neutral)
Fundamental Outlook
CAD awaited Friday’s GDP data, which surprised to the upside. Annualized growth of 2.6% and QoQ growth of 0.6% provided support for CAD. However, USD strength following Thursday’s Jobless Claims balanced the picture, leaving USDCAD in a neutral stance overall.
Technical Outlook
Swing support: 1.3410, 1.3350 Swing resistance: 1.3540, 1.3600
Intraday support: 1.3450, 1.3430 Intraday resistance: 1.3500, 1.3520
🇨🇦🇯🇵 CADJPY — Sentiment: +1 (Mildly Bullish)
Fundamental Outlook
Stronger‑than‑expected Canadian GDP data and a lack of Japanese catalysts supported CADJPY. Stable risk sentiment and broad JPY weakness added to the upside momentum.
Technical Outlook
Swing support: 110.80, 110.10 Swing resistance: 112.40, 113.10
Intraday support: 111.30, 111.00 Intraday resistance: 112.00, 112.30
🇦🇺🇯🇵 AUDJPY — Sentiment: -1 (Mildly Bearish)
Fundamental Outlook
AUD weakened after mixed inflation data, while JPY remained stable. Although risk sentiment was not negative, the softer Australian CPI created downward pressure on AUDJPY.
Technical Outlook
Swing support: 96.80, 96.10 Swing resistance: 98.40, 99.10
Intraday support: 97.20, 96.90 Intraday resistance: 97.90, 98.20
Conclusion
The week of February 23–27, 2026 was shaped primarily by Eurozone data. Weak business and consumer sentiment weighed on EUR, while Friday’s inflation block provided only limited relief. USD saw modest support from stronger Jobless Claims, while AUD softened after mixed CPI results. CAD benefited from stronger GDP, and both GBP and JPY traded without major domestic catalysts. Overall, the week favored selective USD and CAD strength, while EUR and AUD faced headwinds.