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Thursday, November 5th



GBP/USD was rising on Wednesday amid strong Services PMI data, but the cable didn’t manage to withstand the hawkish comments from the Fed. Ahead in the day, Britain is publishing the MPC vote outcome, which will reflect the BoE approach to current monetary policy. Initial jobless claims data is expected on the US side. Current support and resistance levels are located at 1.5254 and 1.5494, respectively.


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Friday, November 6th


AUD/USD gains in Asia currently trading at 0.7149. The aussie rose higher after the Monetary Policy Statement by RBA. The central bank said that Asian growth remained a key uncertainty on future policy and also noted that the scope for easier policy remained in place. AIG Construction Index was higher than last month at 52.1. Current support and resistance levels are located at 0.7076 and 0.7193.


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Friday, April 1st

USD/CAD has tested multi-month lows in the mid-1.2800s, after auspicious Canadian GDP figures drove CAD higher on Thursday. Now the dollar is posting moderate gains vs. its Canadian neighbor, taking pair to the area of daily highs near 1.3050. Ahead in the session, the greenback will take center stage in light of the release of March’sUS Payrolls.
Now pair holding its regained position over 1.30 and trading at 1.3022 position with expected support and resistance levels at 1.2898 and 1.3118



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Monday, April 4th

GBP/USD is attempting to recover Friday’s sell-off after UK manufacturing PMI highlighted weakness in the activity but ran out of steam near 1.4241 in Asia and the spot is now trading around 1.4223 levels largely unchanged on the day. Traders await the release of UK construction PMI report. This is the least important PMI release compared to manufacturing and service PMI figures. Apart from Construction PMI, Brexit related news flow and US factory order figures could influence the pair as well.
Pair will meet support and resistance levels at 1.4061 and 1.4335.



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Tuesday, April 5th

NZD/USD trades -0.69% lower at fresh session holding just on 0.6800 with its lowest position at 0.6785. The Kiwi faces heavy selling pressure this session largely on the back of poor sentiment towards riskier/ higher yielding currencies as falling Asian equities and oil prices crush investors’ risk-appetite. Looking ahead, the bird will continue to get influenced by the broader market sentiment, while the upcoming US data will provide fresh impetus to the NZD/USD pair.
Now pair trades at 0.6797 and support and resistance levels for pair are located at 0.6777 and 0.6887.


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Wednesday, April 6th

EUR/USD trades at the bearish pressure near session lows at 1.1352. Having peaked at 1.1400 levels in the last NY session, major began it bearish move. In the meantime, the EUR bulls didn’t get expected push form German industrial production data which indicated negative fall at -0.5%, but still less than expected -1.8%. Further, the Fed March meeting’s minute’s release, which may hint that the Fed could raise rates as early as this June and hence, provide the much-needed impetus to the USD bulls. Now pair trading at 1.1358 in ongoing bearish trend with today support and resistance levels located at 1.1297 and 1.1424.



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Thursday, April 7th

USD/JPY continues its bearish trend, sinking deeper and deeper into the red zone on a break below 109, hitting the lowest levels since Oct 2014. The yen extends its bullish run against the American dollar for the fifth straight session as the JPY bulls continue to cheer comments from a number of Japanese officials and Fx experts, noting that Fx market intervention in a bid to stem the yen’s appreciation looks unlikely at the moment. Now pair USD/JPY trades near eighteen-month lows down -0.88% in early Europe. Moreover, the greenback came under renewed selling pressure as the European traders hit their desks and give up the USD (USD index updated 6 months low at 94.08, -0.43%), reacting to the more dovish FOMC minutes released last US session. Meanwhile, the major will continue to track the broader market sentiment, while US jobless claims will be watched for fresh cues on the buck ahead of Friday’s Yellen’s speech in the Asian morning. Now pair trades at 108.73 extending new depths, support level for pair is located at 108.37 and resistance at 110.50.



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Friday, April 8th


EUR/USD pair extends weakness into a second day today as markets continue to weigh the latest more dovish ECB accounts/ minutes in light of Fed Yellen’s less dovish comments delivered after the Wall Street close. “Economy is on path for further rate increases" and "US on solid course, not a bubble economy." – Head of Fed announced. Looking ahead, the major will continue to track the broader market sentiment along with the USD moves for further direction as the trading calendar remains data-quiet on the final trading day of this week. Currently, EUR/USD trades lower at 1.1362, near daily lows printed at 1.1359 earlier on the day. Daily support and resistance levels are located at 1.1271 and 1.1445.



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Monday, April 11th

EUR/USD stuck between strength in Yen and resulting weakness in EUR/JPY cross and EUR/GBP strength. Falling Fed rate hike bets is also ensuring the downside remains protected. On the other hand, anti intervention lobby is gaining strength in Japan, hence a technical recovery in USD/JPY is struggling to gather pace. The economic calendar in Europe is empty; hence the pair remains at the mercy of action in EUR/JPY. Later in the US session, Fed speak could influence the pair. Pair is trading at 1.1417 this morning, meeting its support and resistance levels at 1.1345 and 1.1473.


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Tuesday, April 12th

AUD/USD is seen consolidating the recent upmove as we progress towards the early European morning, with the bulls awaiting a reaction to the upbeat Australian business gauge numbers from the European traders. In the day ahead, the major will get influenced by the sentiment on the European stocks as also the oil price movement amid a lack of fresh economic updates. While the main focus remains on Australian employment report this thursday. Currently AUD/USD pair trades at 0.7635 with its new 6-day highs reached at 0.7646 this morning. Support and resistance levels are located at 0.7543 and 0.7685.


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