EUR/USD -- Needs a close above 1.24 to further trouble
bears; essentially trades directionless over past two months; a
move above 1.2414 by the end of Thursday could mark completion
of DeMark TD sequential sell series setup
* 3rd resistance: 1.2476, March 27 high
* 2nd resistance: 1.2422, March 28 high
* 1st resistance: 1.2414, April 17 high
* Spot: 1.2377
* 1st support: 1.2332-36, 21, 55-DMAs
* 2nd support: 1.2300, April 12 low
* 3rd support: 1.2233, lower end of trend channel since March 1
GBP/USD -- Hits strongest level since June 24, 2016 yet
last Fibo retracement of drop since Brexit vote at 1.4338 caps
on a closing basis; March double-top needs to hold on pullback
for move to 1.45 to materialize
* 3rd resistance: 1.4606, 55-monthly MA
* 2nd resistance: 1.4517, midpoint of losses since 2014
* 1st resistance: 1.4377, April 17 high
* Spot: 1.4300
* 1st support: 1.4244-45, March 27-26 double-top
* 2nd support: 1.4222, pivot s2
* 3rd support: 1.4144, 21-DMA
USD/JPY -- Stays in bullish trajectory as 55-DMA and
Ichimoku cloud bottom (106.89) hold for now
* 3rd resistance: 108.44, 38.2% Fibonacci retracement of losses
since Nov. 6
* 2nd resistance: 107.78, April 13 high
* 1st resistance: 107.61, April 16 high
* Spot: 107.37
* 1st support: 106.94, 55-DMA
* 2nd support: 106.62-70, series of lows this month
* 3rd support: 106.52, 21-DMA
USD/CHF -- Bullish channel intact; risks forming a Tweezer
Top which could signal corrective pullback
* 3rd resistance: 0.9738, pivot r2
* 2nd resistance: 0.9713, 61.8% Fibonacci retracement of drop
since Nov. 1
* 1st resistance: 0.9692, 55-weekly MA
* Spot: 0.9672
* 1st support: 0.9578, April 16 low
* 2nd support: 0.9560, 21-DMA
* 3rd support: 0.9535, April 10 low
AUD/USD -- April 13 test and rejection of 55-DMA suggests
downside risks remain in place
* 3rd resistance: 0.7831, 38.2% Fibonacci retracement of losses
since Jan. 26 YTD high
* 2nd resistance: 0.7810, April 13 high
* 1st resistance: 0.7792, 55-DMA
* Spot: 0.7769
* 1st support: 0.7753-52, April 13-16 lows
* 2nd support: 0.7718, 21-DMA
* 3rd support: 0.7638-43, 78.6% Fibonacci retracement of gains
since December, March 29 low
Source Bloomberg Pro Terminal
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