13th April 2015 – Technical Outlook April 14, 2015 AUD/USD FROM HERE: sell above 0.7700 to target 0.7630 then sub 0.7600 (unlikely next 24hrs but maybe this week) BUT: square up above 0.7750 and look for better levels to short. Maybe around 0.7780-0.7800 COMMENT: could be quiet next 24hrs due to lack of data release so might be “rangey” day NEXT DATA RELEASE: Mon AUD No data expected Tentative CNY Trade Balance 43.4B F) 60.6B (P) 3rd Support 2nd Support 1st Support SPOT 1st Resistance 2nd Resistance 3rd Resistance 0.7580 0.7630 0.7658 0.7678 0.7707 0.7748 0.7800 USD/JPY FROM HERE: range trade between 119.67 to 120.70 with bias on downside BUT: can consider reversing position if the range is broken COMMENT: not expecting volatile next 24 hrs. Bulls and bears pretty even.. NEXT DATA RELEASE: Mon 10:50am JPY Core Machinery Orders m/m (med impact) -2.6% (F) -1.7% (P) JPY Monetary Policy Meeting Minutes (med impact) 3rd Support 2nd Support 1st Support SPOT 1st Resistance 2nd Resistance 3rd Resistance 119.42 119.64 120.23 120.16 120.72 121.06 121.53 EUR/USD FROM HERE: sell around 1.0630 to target 1.0547 then major target at 1.0460 BUT: square up if 1.0720 breaks and maybe go long here too COMMENT: Trend is bearish but need to clear out the bargain hunters first below 1.0500 NEXT DATA RELEASE: Mon 7:00pm EUR Italian Industrial Production m/m (low impact) 0.2% (F) -0.7% (P) 3rd Support 2nd Support 1st Support SPOT 1st Resistance 2nd Resistance 3rd Resistance 1.0460 1.0547 1.0578 1.0602 1.0634 1.0687 1.0720 GBP/USD FROM HERE: sell at market or around 1.4687 to target 1.4500 BUT: do trail your stops to lock in profits on the way. Market can turn very quickly in this environment COMMENT: keep shorting until we see reversal signal NEXT DATA RELEASE: Mon GBP no data expected 3rd Support 2nd Support 1st Support SPOT 1st Resistance 2nd Resistance 3rd Resistance 1.4500 1.4586 1.4600 1.4631 1.4687 1.4715 1.4760 {{cta(‘b1839b6c-7c0c-41d4-a4d9-0efc0455154e’)}}
