The Australian Dollar grinded higher to 0.7560 off the back of soaring Oil prices. Oil has rallied more than 6%, driven by lower US output and hope OPEC meeting on 17 April can reach freeze output agreement. The sentiment on OPEC agreement does change day to day and likely to influence risk barometer this week; given past rhetoric reaching a clear agreement on freeze output will be a feat. The market will look for direction from China’s CPI and PPI data to be released today, forecasted at 2.4% and -4.6% year to year. China’s March data can swing risk sentiment with volatility in AUDJPY likely to continue. AUDJPY fell more than 5% last week as the market favoured safe haven order flows, untangling the carry trade prevalent in the AUDJPY pair. Talks of intervention from Japanese officials are increasing with JPY strength seen as undesirable, adding to market uncertainty.
Important note: These technical and research reports are provided to easyMarkets® as a subscriber of third party providers. They are provided for informative purposes only and in no way can they be considered as a recommendation by easyMarkets® to you to engage in any trade. Hence, easyMarkets® shall not be held responsible for any outcome of trading decisions, in regards with these reports or similar reports. You hereby acknowledge that using the information entailed in these reports is at your sole responsibility and you will have no claims with regards to these reports against easyMarkets®. If you do not agree to this, you are strongly advised not to use these reports.
easyMarkets Pty Ltd (AFSL 246566 ABN 73107184510) makes no recommendations as to the merits of any financial product referred to in this website, emails or its related websites and the information contained does not take into account your personal objectives, financial situation and needs. easyMarkets recommends that you read the Regulation Page, The Product Disclosure Statement, the Terms and Conditions and the Financial Services Guide before making any decision concerning easyMarkets’ products.
|
|
Trade Crude Oil Intraday: the upside prevails.
Pivot: 37.95
Our preference: long positions above 37.95 with targets @ 40.40 & 40.85 in extension.
Alternative scenario: below 37.95 look for further downside with 37.44 & 36.70 as targets.
Comment: the RSI is bullish and calls for further upside.
Supports and resistances:
41.25
40.85
40.40
39.59 Last
37.95
37.44
36.70
|
|
|
|
|
Trade AUD/JPY Intraday: key resistance at 82.84.
Pivot: 82.84
Our preference: short positions below 82.84 with targets @ 81.11 & 80.64 in extension.
Alternative scenario: above 82.84 look for further upside with 83.88 & 84.60 as targets.
Comment: the RSI is mixed to bearish.
Supports and resistances:
84.60
83.88
82.84
81.82 Last
81.11
80.64
79.86
|
|
|
|
|
Trade SPI 200 (ASX) Intraday: capped by a negative trend line.
Pivot: 4955
Our preference: short positions below 4955 with targets @ 4874 & 4830 in extension.
Alternative scenario: above 4955 look for further upside with 5030 & 5083 as targets.
Comment: as long as 4955 is resistance, likely decline to 4874.
Supports and resistances:
5083
5030
4955
4931 Last
4874
4830
4800
|
|
| Unknown |
ISIN : |
Ticker : AP |
|
|
