09 April 2015, EUR/USD
The euro continued to decline and ended the day with a decrease against the dollar. The official data showed that the Germany industrial orders level fell by 0.9% in February, confounding the increase expectations by1.5%. The January figure was revised before a decrease by 2.6% instead of 3.9%
Being under pressure from the sellers’ part, the pair continued to decline and, breaking through the support near 1.0880-1.0900, as a result it has fallen to 1.0750-1.0770. Then the pair rebounded to the resistance near 1.0900-1.0920 but this rebound was fallowed by the support level of 1.0750-1.0770 test.
The support levels are 1.0750-1.0770, and the resistance levels are 1.0900-1.0920.
MACD is in a neutral territory.
The pair’s inability to continue its growth after the weak non- farms and the support near 1.0880-1.0900 loss are the negative factors for the euro. Shall the pair loss 1.0750-1.0770 we expect a decline towards 1.0610-1.0630. The euro needs to rise up above 1.0900-1.0920 to improve its perspectives.
The pound fell against the dollar, ending the day with losses. The retail price index (BRC) showed a continued decrease in March in the annual comparison -2.1% y/y vs. -1.7% y/y in February, reflecting the UK economic inflation weakness, of course, it cannot be the supporting point for the pound.
The pair again declined, testing the support near 1.4880-1.4900. After rebound to the resistance near 1.4980-1.500 the pair resumed decline, bears tested the support near the 48th figure. The pair rebounds are limited by the resistance near 1.5000-1.5020 now. The pair is still in the consolidation phase.
The support levels: 1.4880-1.4900 and the resistance levels: 1.5000-1.5020.
The MACD indicator is in a neutral territory.
While the pair is trading above the 48th figure, the chances of the growth resumption will be preserved. The loss of this support will jeopardize the level testing and the highs breakthrough. The pound needs to overcome the resistance near 1.5000-1.5020 to improve its perspectives
The yen fell against the dollar at the previous trades. However, the yen has sharply grown against the dollar after the BoJ meeting reports. Now the pair is consolidating. The main news has not been already announced yet, it is the Bank of Japan monetary policy two-day meeting results. The Japanese regulator decided to leave the policy parameters unchanged – the rates will remain at the same level and the monetary base volume expansion of $ 80 trillion yen per year.
Using demand, the US dollar against the Japanese yen continued to grow and tested the resistance near 120.20-120.40. Then the pair came under pressure which led to its decline.
The support levels: 119.05-119.25, and the resistance levels: 120.20-120.40.
The MACD indicator is in a positive territory.
The dollar still needs the confident 120th figure breakthrough and the resistance around 120.20-120.40, so we can expect a growth towards the 122nd figure. Inability to consolidate above 120.20-120.40 increases the risk of a larger downward correction.