Yesterday, there was no major data out. Market was continuing consolidation. All major currencies was in the range.
EURO/USD: Yesterday, there was no major dada form both European side and US side. Market was range trading. 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. Market was quite about Yen trades. Technical view: Dollar Yen should still keep the range trading. Major support is above 108.30.then 107.90. Resistance is about 110.00
Trading range: 110.00-108.30
GBP/USD: As react of BOE’s policymaker Marian Bell’s speech, sterling got support from early market, but as NY trade zoon, market given back the early profits. 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: tomorrow market was focused on RBNZ’s rate report. As high yield, both Aussie and Kiwi was under the sell-off pressure. Both of Aussie and Kiwi made a range trading, yesterday. Technical view: If rate increase, investors would dump Aussie to buy kiwi. If rate staying at 5.25%. Kiwi would under pressure. Major support of Aussie would be 0.7170; the resistance level would be 0.7370; Kiwi dollar: the next support of Kiwi is 0.62, and then is 0.61. Resistance level would be 0.6370.
Trading range: AUD/USD: 0.7370-0.7170; NZD/USD: 0.6370-0.6150