8th April 2015 – Technical Outlook

AUD/USD 

FROM HERE: add to longs while trailing stops around 0.7600 to target 0.7700 and beyond

BUT: square up and re-assess if 0.7680 breaks on down side

COMMENT: bullish momentum should continue today but bears won’t give up without a fight.

NEXT DATA RELEASE: 

Wed   AUD No data expected    
Thurs  12:30am  USD FOMC Member Dudley Speaks    
  5:00am USD FOMC Meeting Minutes    

cT_cs_1000262_AUDUSD_2015-04-08_08-40-59

3rd Support 2nd Support 1st Support SPOT 1st Resistance 2nd Resistance 3rd Resistance
0.7530 0.7560 0.7600 0.7641 0.7688 0.7718 0.7743

 

Retail Sales m/m     0.4% 0.4%  
    AUD   ANZ Job Advertisements m/m

USD/JPY 

FROM HERE: buy at market or on dips around 119.90 to target 121.00 and beyond

BUT: square up and re-assess if 119.40 breaks on downside

COMMENT: May need Herculean effort to break through 121.50

NEXT DATA RELEASE: 

Wed  10:50am JPY  Current Account 0.61T  (F)  1.06T  (P) 
   Tentative JPY Monetary Policy Statement    
  Tentative JPY BOJ Press Conference    

 cT_cs_1000262_USDJPY_2015-04-08_08-56-42

3rd Support 2nd Support 1st Support SPOT 1st Resistance 2nd Resistance 3rd Resistance
119.04 119.40 119.90 120.30 120.72 121.02 121.20


EUR/USD 

FROM HERE: sell at market or around 1.0862 to target 1.0782

BUT: 1.0740 would need bears resolve to push through. Square up above 1.0900 and re-assess

COMMENT: Bears in total control and may continue be in control for the next 24hours

NEXT DATA RELEASE: 

 Wed 5:00pm EUR  German Factory Orders m/m 1.5%  (F)  -3.9%  (P) 
  8:00pm EUR Retail Sales m/m -0.1% 1.1%

cT_cs_1000262_EURUSD_2015-04-08_09-08-08

3rd Support 2nd Support 1st Support SPOT 1st Resistance 2nd Resistance 3rd Resistance
1.0717 1.0746 1.0782 1.0824 1.0862 1.0896 1.0954

Italian Manufacturing PMI


GBP/USD 

FROM HERE: sell around 1.4870 to target 1.4700 (may take more than 24hrs)

BUT: square up and re-assess if 1.4900 breaks on top side

COMMENT: Queitly confident that bears might show their aggression today

NEXT DATA RELEASE: 

 Wed 07:30pm GBP BOE Credit Conditions Survey    

cT_cs_1000262_GBPUSD_2015-04-08_09-11-51

3rd Support 2nd Support 1st Support SPOT 1st Resistance 2nd Resistance 3rd Resistance
1.4700 1.4716 1.4767 1.4815 1.4870 1.4983 1.5000
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