The Euro regained traction and rallied from 1.0660 zone, where higher base was formed. Today’s acceleration through strong barriers at 1.0847/51, 17 Apr high / daily Ichimoku cloud base, where initial rally was briefly paused, heads towards next resistances at 1.0912/27, Fibonacci 61.8% of 1.1034/1.0519 / weekly Kijun-sen line. Repeated positive daily close would open way for retest of key short-term barriers at 110.34/50, 06 Apr / 26 Mar peaks. Bullish near-term technicals support further upside, with former barriers at 1.0847/51, now acting of immediate support, ahead of session low at 1.0782, reinforced by daily Kijun-sen line and pivotal daily 20SMA 1.0765, loss of which will be bearish.
.
Res: 1.0912; 1.0927; 1.0953; 1.1000
Sup: 1.0782; 1.0761; 1.0733; 1.0690
GBPUSD
The pair rallied above 1.5092, daily Ichimoku cloud top, after breaking above 1.5079, former high, below which, two-day consolidation occurred. Strong acceleration, supported by bullish tone on technicals of lower and larger timeframes, is looking for test next barriers at 1.5160/73, 18 Mar spike high / Fibonacci 61.8% retracement of 1.5551/1.4563 descend. The pair is poised for repeated strong bullish weekly close that would be supportive for further recovery action. Daily cloud top at 1.5092, now acts as initial support, ahead of former consolidation tops at 1.5076/68 and session low at 1.5026. Daily cloud base that reinforces psychological 1.50 zone, marks breakpoint, below which bears will regain control.
Res: 1.5143; 1.5160; 1.5173; 1.5200
Sup: 1.5092; 1.5079; 1.5026; 1.5000
USDJPY
The pair comes under pressure after yesterday’s acceleration lower and close in long red candle that came after failure to hold gains above psychological 120 barrier. The pair broke and close below daily 20SMA that could signal further easing. Repeated close in red and below descending daily 10SMA, currently at 119.42, to confirm negative near-term stance and shift focus towards short-term range floor and pivotal supports at 118.52/31. Only regain of 120 barrier and close above here, would sideline downside risk. Key barriers lay at 120.38, daily cloud top and 120.83, 13 Apr peak.
Res: 119.64; 120.08; 120.38; 120.83
Sup: 119.12; 118.52; 118.31; 118.00
AUDUSD
The pair regained traction after yesterday’s easing found footstep at 0.7709 and subsequent bounce marked another positive daily close. Today’s fresh acceleration higher that ticked 0.78 barrier, signals resumption of the bull-leg off 0.7681 higher low. Positive tone is re-established on near-term studies, with break above initial 0.7805 barrier, high of 22 Apr, required to open pivotal 0.7841 resistance, high of 17 Apr, for resumption of rally from 0.7553, 14 Apr low. Positive daily studies and widening 20d Bollingers, support further action higher, with corrective action expected to be contained above 0.7763, session low and mid-point of 0.7709/0.7815 upleg.
Res: 0.7815; 0.7825; 0.7841; 0.7911
Sup: 0.7774; 0.7763; 0.7709; 0.7681
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.