 | |  | | Yesterday, it was like market consolidation. US fundamental data was still better than expected. As euro zone, with Trichet’s report, market was pick up a little bit confinement on euro-economy recovery; the expected rate hike in UK, continually support sterling, and Japan are getting ready for the Golden week holiday.
EURO/USD: Yesterday, ECB president Trichet given out expressed confidence on euro zone’s recovery with inflation, GDP growth, and gradual recover on economic next year. As react in market, Euro was continually up against dollar. Technical view: euro still trade in downside trend, and also has sell-off risk. Resistance level is 1.1980 then 1.2; support level is 1.1760.
Trading range: 1.1980-1.1760
USD/JPY: Because investors would like square their position right before Japan’s Golden Week holiday. There has been some Euro/Yen sell-off in market, and Dollar/Yen has been trade high in yesterday. Technical view: Dollar Yen should still keep the range trading. Major support is above 108.30.then 107.90. Resistance is about 109.40 and then 110.00
Trading range: 110.00-108.30
GBP/USD: Today, sterling steadied strength against dollar, because of investors positioned for an interest rate rise by BOE nest week. As react of BOE’s policymaker Tucher’s speech, sterling got support from market, not only against dollar but also Euro as well. Technical view: Fundamental data was good to boost up sterling. Cable would keep strength in the wild trading range 1.8150-1.7620. The next support level is 1.7760 and 1.7680, and the resistance level is near about 1.8000 and 1.8150.
Trading range: 1.800-1.7760
AUD/USD; NZD/USD: last night, NZ, the consumer confident was out -37.5%, which is better than March. In Aussie, market was waiting for 1st quarter inflation report as released on today. As high yield, both Aussie and Kiwi was under the sell-off pressure although by followed the lead of Euro. Both of Aussie and Kiwi made a range trading, yesterday. Technical view: Major support of Aussie would be 0.7170; as 0.7280, the resistance level would be 0.7370; Kiwi dollar: the next support of Kiwi is 0.6235,and then is 0.62. Resistance level would be 0.6370.
Trading range: AUD/USD: 0.7370-0.7170; NZD/USD: 0.6330-0.6250 |  |  |  |  |
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