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Dean's Daily FX Update – 10 April 2017
In the Zone
- EURUSD
- AUDUSD
- NZDUSD
- USDCAD
- USDCHF
- USDZAR
Noteworthy News
- Fed Member Bullard this morning stating that there is no reason to continue pressing rates, you would think that this would be negative for the dollar, Bullard is an eternal “bear” though and so the market will rather hear what Yellen has to say tonight before we get a move.
Recap
We waited patiently over the weekend for any type of feedback of the US-China meetings held in Washington, it had all the makings of some fireworks. Nothing materialised and judging by stories over Bloomberg, it would seem as though the two have become good friends – I am waiting patiently for the fall out though.
The late flurry into US yields and indirectly into the greenback late on Friday was largely extended into the Asian session this morning, the move was more subdued though. The move on Friday has meant that we may have some nice technical set ups forming for this shortened week, I do think that the market may hold out for the Fed Chair Yellen speech tonight before we see this move materialize.
I cover all the pairs in the video this morning as there are some nice formations starting to take place, I show you where the levels are starting to take shape – some of them Fib levels forming from the US elections in November.
Daily Ranges 10/04/2017
Majors
EURUSD
Resistance 1.0620 – 1.0640
Support 1.0580 – 1.0560
GBPUSD
Resistance 1.2440 – 1.2460
Support 1.2370 – 1.2350
AUDUSD
Resistance 0.7520 – 0.7530
Support 0.7490 – 0.7470
NZDUSD
Resistance 0.6960 – 0.6980
Support 0.6920 – 0.6900
USDCAD
Resistance 1.3430 – 1.3445
Support 1.3390 – 1.3370
USDJPY
Resistance 111.40 – 111.60
Support 110.70 – 110.50
USDCHF
Resistance 1.0080 – 1.0100
Support 1.0040 – 1.0020
Rand
USDZAR
Resistance 13.8770 – 13.9250
Support 13.6850 – 13.6570
EURZAR
Resistance 14.7080 – 14.7330
Support 14.5100 – 14.4500
GBPZAR
Resistance 17.2220 – 17.2500
Support 16.9630 – 16.9290
Minors
AUDCAD
Resistance 1.0080 – 1.0100
Support 1.0040 – 1.0020
AUDJPY
Resistance 83.60 – 83.80
Support 83.00 – 82.70
EURCHF
Resistance 1.0697 – 1.0710
Support 1.0670 – 1.0630
EURGBP
Resistance 0.8570 – 0.8600
Support 0.8520 – 0.8500
EURJPY
Resistance 117.90 – 118.30
Support 117.50 – 117.20
GBPJPY
Resistance 138.10 – 138.30
Support 137.30 – 137.00
GBPCAD
Resistance 1.6670 – 1.6690
Support 1.6590 – 1.6570
GBPCHF
Resistance 1.2530 – 1.2550
Support 1.2460 – 1.2430
Indices
DE30
Resistance 12260 – 12280
Support 12160 – 12130
UK100
Resistance 7350 – 7370
Support 7250 – 7230
US500
Resistance 2360 – 2380
Support 2330 – 2310
US30
Resistance 20700 – 20750
Support 20600 – 20580
SA40
Resistance 46600 – 46900
Support 46000 – 45700
Commodities
BRENT
Resistance 55.50 – 55.70
Support 54.90 – 54.70
XAUUSD
Resistance 1260.00 – 1270.00
Support 1250.00 – 1240.00
XAGUSD
Resistance 18.20 – 18.40
Support 17.90 – 17.70
Important Economic Data out today
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