7th April 2015 – Technical Outlook April 7, 2015 AUD/USD FROM HERE: buy on dips around 0.7580 and again at 0.7560 to target 0.7660 for start BUT: square all and consider reversing if 0.7530 breaks on downside COMMENT: 0.7530-60 looks well supported so go long until proven otherwise NEXT DATA RELEASE: Tues 12:30am AUD Retail Sales m/m 0.4% (F) 0.4% (P) AUD ANZ Job Advertisements m/m 0.9% 3:30pm AUD Cash Rate 2.25% 2.25% AUD RBA Rate Statement 3rd Support 2nd Support 1st Support SPOT 1st Resistance 2nd Resistance 3rd Resistance 0.7530 0.7560 0.7580 0.7600 0.7663 0.7688 0.7743 Retail Sales m/m 0.4% 0.4% AUD ANZ Job Advertisements m/m USD/JPY FROM HERE: still range bound after NFP so try get some pips within 118.70 – 119.90 BUT: can consider break out trades out side this range (queitly confident that it should be profitable) COMMENT: set up break out trades outside range for the long term NEXT DATA RELEASE: Tues JPY No data expected Wed 1:00am USD JOLTS Job Openings 5.01M (F) 5.00M (P) 3rd Support 2nd Support 1st Support SPOT 1st Resistance 2nd Resistance 3rd Resistance 118.75 119.04 119.40 119.51 119.90 120.32 120.72 EUR/USD FROM HERE: cautiously sell at market or around 1.0990 to target sub 1.0800 this week BUT: square up and reverse if 1.1034 breaks to test major resistance at 1.1100 COMMENT: Post NFP rally doesn’t look convincing there fore may not be sustainable for now NEXT DATA RELEASE: Tues 6:15pm EUR Spanish Services PMI 56.5 (F) 56.2 (P) 6:45pm EUR Italian Services PMI 54.3 54.3 3rd Support 2nd Support 1st Support SPOT 1st Resistance 2nd Resistance 3rd Resistance 1.0760 1.0830 1.0862 1.0931 1.0990 1.1034 1.1100 Italian Manufacturing PMI GBP/USD FROM HERE: sell around 1.4932 to target sub 1.4800 again BUT: sentiment will change from bearish to bullish for the long term if 1.5000 is broken COMMENT: remain short until 1.5000 breaks. NEXT DATA RELEASE: Tues 07:30pm GBP Services PMI 57.1 (F) 56.7 (P) 3rd Support 2nd Support 1st Support SPOT 1st Resistance 2nd Resistance 3rd Resistance 1.4722 1.4740 1.4870 1.4892 1.4932 1.4983 1.5000 {{cta(‘b1839b6c-7c0c-41d4-a4d9-0efc0455154e’)}}
