FX MARKET REPORT 27.04.2021

FX MARKET REPORT 27.04.2021

FX MARKET REPORT 27.04.2021

Daily Commentary
Daily Commentary
FX MARKET REPORT 27.04.2021
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FX MARKET REPORT 27.04.2021

GBP/USD: Boris kills the pound with his words ahead of the Fed. Initial support awaits at the daily low of 1.3680, followed by 1.3820 and 1.3810. Resistance is at 1.3925, the weekly peak, followed by 1.3950 and the all-important double-top of 1.4010. Euro/dollar continues benefiting from upside momentum on the four-hour chart while the Relative Strength Index (RSI) has drifted away from 70 – thus outside overbought territory. The currency pair continues trading above the 50, 100 and 200 Simple Moving Averages. Some resistance awaits at 1.2080, which was a peak in mid-April. The recent peak of 1.2117 is the next level to watch. Support awaits at 1.2050, which was a swing high several weeks ago. The round 1.20 line is a significant cushion. The dollar was 0.2% higher at 90.918, after dipping to the lowest since March 3 overnight at 90.679. AUD/USD fell 0.1% to 0.7793, after a 0.7% rally overnight that took it just shy of a five-week peak. USD/JPY rose 0.1% to 108.20, continuing its rise from Friday’s seven-week low of 107.48, after the Bank of Japan held policy steady and took a more positive view on growth while cutting inflation forecasts.

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GBP/USD: Boris kills the pound with his words ahead of the Fed. Initial support awaits at the daily low of 1.3680, followed by 1.3820 and 1.3810. Resistance is at 1.3925, the weekly peak, followed by 1.3950 and the all-important double-top of 1.4010. Euro/dollar continues benefiting from upside momentum on the four-hour chart while the Relative…

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