Market Analysis
EURUSD weekly: euro drops 111 pips to 1.14817, 2026-09-14
EURUSD gave up 111 pips over the week of 14 September 2026, with the whole loss landing in a single Wednesday session that broke 1.1500.
4 min readAUDUSD opened Monday at 0.6978 and closed Friday at 0.6975. The pair printed its weekly high at 0.7026 on Tuesday and its weekly low at 0.6961 on Thursday. Net, price finished roughly 3 pips below where it started, a flat week in headline terms that hid a sharp mid-week rejection from the 0.7000 handle.
The Aussie tested 0.7000 early and could not hold it. Tuesday's high at 0.7026 marked the ceiling, and by Thursday sellers pushed price down to 0.6961 before a modest Friday bounce back to 0.6975. The retreat lined up with a firmer US dollar backdrop rather than a domestic Australian catalyst.
Regional dollar dynamics added pressure. The PBOC set its USD/CNY reference rate stronger than the Reuters estimate on Friday, a signal that leaned against yuan strength and, by extension, weighed on the broader Asia-Pacific currency block that the Aussie trades alongside. Japan core CPI matched forecast in June, leaving USD/JPY little changed and offering no offset for the Aussie.
The bundle carries no scheduled high-impact economic events for the upcoming week. With the calendar quiet, price is likely to take its cue from dollar flows and any fresh PBOC fixing surprises. If the USD/CNY reference rate is set stronger than estimate again, the Aussie tends to soften in sympathy. If the fix comes in weaker than estimate, that pressure eases and the pair has room to retest the upper part of this week's range.
Positioning sits at 46.5% long against 53.5% short. The skew leans bearish, with the majority of open interest betting on further downside. That short bias reflects the failed 0.7000 test and the firmer dollar tone. A crowded short book can also fuel a squeeze if price reclaims the round number, so the tilt cuts both ways.
The 0.7000 round number is the pivot. If price closes above it, the weekly high at 0.7026 is the next obvious level, and a break there opens the upper 0.70s. If the pair rejects 0.7000 again, the Thursday low at 0.6961 comes back into play, and a close below that exposes fresh downside. The 0.6975 close sits mid-range, so a direction still needs to be earned. Traders watching related dollar pairs can compare the move against EUR/USD for confirmation of broad greenback strength. You can track these levels live on an LHFX account.
Byline: LHFX Research
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