Yesterday, Euro zoon PMI was out better than expected. Since US ISM was out 62.4, push majors recovering form earlier looses on Monday. Because both UK and Japan was still in holiday, market was still keep in range trading and looks quite.
EURO/USD: Yesterday, Euro zoon PMI was out better than expected. After US out ISM was mildly disappointed, Euro was jump up 50pips, then back to original levels. Overlook all day, euro was range trading. Technical view: In the middle term euro would still have sell-off risk. Resistance level is 1.1980; support level is 1.1900, and then 1.1810.
Trading range: 1.1900-1.1870
USD/JPY: Yen was also range market. Because of Japan was still in Golden Week holiday, market on Yen was quiet. Technical view: Major support is above 109.50. Resistance is about 111.10, and then will be 111.50
Trading range: 111.10-109.50
GBP/USD: Followed by Euro leads, sterling was also range trading. Because UK was still in long weekend holiday, there was no economy data out. Technical view: In short term, Sterling would still have sell-off pressure. The next support level is 1.7620; and the resistance level is near about 1.7810 and 1.7940.
Trading range: 1.7940-1.7620
AUD/USD; NZD/USD: By flowed the lead of Euro and Sterling, both Aussie and Kiwi was range trading. Although, Aussie has potential rate hiking in this week, both Aussie and Kiwi was still under pressure. Technical view: Major support of Aussie would be 0.7170 and then 0.7080; the resistance level would be 0.7280; Kiwi dollar: the next support of Kiwi is 0.62, as 61.8% FIBO retracement form the low at Sep.2003 to the high at Feb. this year; and then is 0.61. Resistance level would be 0.6330.