
Here are a short wrap of the latest news and the tech analysis of EUR/USD, AUD/USD, and gold.
EUR/USD has dropped to the 50.0% Fibonacci retracement at 1.2150. Since this level lies at the intersection of the Fibo level and the 50-day moving average, it’s strong support. That’s why the pair will pull back up rather than beak out. If it manages to break the 61.8% Fibo level at 1.2200, the way up to the next resistance at 1.2260 will be clear. Support levels are 1.2100 and 1.2030.
GBP/USD plunged below the support of 1.3950, clearing the way down to the low of February 17 at 1.3850. It’s unlikely to break it on the first try, but if it does, it may drop to the next round number of 1.3850. Resistance levels are 1.4000 and 1.4200.
USD/JPY is struggling to break the resistance of 106.50. If it jumps above it, the way up to the psychological mark of 107.00 will be open. On the flip side, the move below 106.00 will drive the pair down to the low of February 24 at 105.80.
Gold keeps moving in a descending channel both in the long and in the short term. If it manages to break the support of $1 760, the way down to the May low of 2020 at $1 730 will be clear. Resistance levels are $1 800 and $1 825.
Here are a short wrap of the latest news and the tech analysis of EUR/USD, AUD/USD, and gold.
Canadian Employment Rate and Unemployment Change are announced on April 9, at 15:30.
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The Australian economy has been on a steady recovery path, and now we have a very symbolic confirmation that S&P ASX 200 is about to cross 7000!
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The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT.
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