- AUD/USD is going through hurdles close to the 0.7675 and 0.7700 ranges.
- A significant bearish pattern line is forming with resistance close to 0.7660 on the 4-hours chart.
- EUR/USD recovered above 1.1850, whereas GBP/USD declined sharply from 1.3900.
- The US Preliminary Jobless Claims within the week ending April 03, 2021 may decline from 719K to 680K.
AUD/USD Technical Evaluation
After buying and selling as little as 0.7531, the Aussie Greenback began a recent enhance. AUD/USD recovered above 0.7600, however it’s prone to face a powerful promoting curiosity close to 0.7700.
Wanting on the 4-hours chart, the pair recovered above 0.7600 and 0.7620. There was additionally a break above the 23.6% Fib retracement stage of the downward transfer from the 0.7849 excessive to 0.7531 low.
Nonetheless, the pair confronted resistance close to the 0.7670 stage and the 100 easy transferring common (crimson, 4-hours). There’s additionally a significant bearish pattern line forming with resistance close to 0.7660 on the identical chart.
The subsequent key resistance is close to the 0.7690 stage. It’s near the 50% Fib retracement stage of the downward transfer from the 0.7849 excessive to 0.7531 low. A profitable shut above the pattern line and 0.7700 may open the doorways for a gradual enhance.
If not, there’s a danger of a recent decline in the direction of the 0.7580 stage. The subsequent key help is close to 0.7550, under which the pair may even clear the 0.7531 low.
EUR/USD, the pair cleared the 1.1850 resistance and it’s now going through resistance close to 1.1900. In addition to, GBP/USD was rejected close to 1.3900 and it declined sharply.
- UK Building PMI for March 2021 – Forecast 54.6, versus 53.3 earlier.
- US Preliminary Jobless Claims – Forecast 680K, versus 719K earlier.
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