RBA Monetary Policy Meeting Minutes: Tuesday, 1:30. The RBA minutes will provide details of the March policy meeting. At that meeting, the bank maintained the cash rate at 0.25%. A pessimistic assessment by policymakers in the minutes could weigh on the Aussie.
UK Employment Reports: Tuesday, 6:00. The outlook for the UK job market is bleak, as the Covid-19 outbreak has paralyzed the UK economy. Wage growth improved to 3.1% in January, up from 2.9% a month earlier. The estimate for February stands at 3.0%. Unemployment claims jumped to 17.3 thousand in February, up from 5.5 thousand and much higher than the estimate of 6.2 thousand. The unemployment rate in January edged up to 3.9% from 3.8%, its highest level since June. No change is expected in the unemployment rate.
AUD
RBA Monetary Policy Meeting Minutes
GBP
UK Employment Reports
- EURUSD
As could be seen on the chart above that the pair is traded below a strong resistance level that is the downtrend line. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.0740. On the other hand, if the pair breached the uptrend line. We can go long targeting the level of 1.0940.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.1050 ▪ 1.1000 ▪ 1.0940 |
▪ 1.0740 ▪ 1.0700 ▪ 1.0680 |
We are bearish as long as the pair is trading below the downtrend line. |
- GBPUSD
As could be seen on the chart above that the pair is trading below a strong resistance level that is 1.24. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.2150
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.2450 ▪ 1.2430 ▪ 1.2400 |
▪ 1.2200 ▪ 1.2150 ▪ 1.2100 |
We are bearish as long as the pair is trading below 1.2400. |
- GOLD
The chart above shows that the pair is trading above a strong support level that is the downside of the bearish channel shown on the chart in blue. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1700 followed by 1720.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1720 ▪ 1710 ▪ 1700 |
▪ 1655 ▪ 1650 ▪ 1640 |
We are bullish as long as the pair is trading above the downside of the pattern. |
- AUDUSD
The chart above shows that the pair is trading above a strong support level that is 0.6258. Therefore, we are bullish as long as the pair is trading above it. Our first target is 0.63. On the other hand, if the level of 0.6258 is broken, we can go short targeting the level of 0.6200
| Resistance levels: | Support levels: | Recommended: |
| ▪ 0.6350 ▪ 0.6300 ▪ 0.6290 |
▪ 0.6258 ▪ 0.6230 ▪ 0.6200 |
We are bullish as long as the pair is trading above the level of 0.6258. |
- GBPJPY
As could be seen on the chart above that the pair is trading below a strong resistance level that is the downtrend line. Therefore, we are bearish as long as the pair is trading below it. Our first target is 131
| Resistance levels: | Support levels: | Recommended: |
| ▪ 135.00 ▪ 134.50 ▪ 134.00 |
▪ 131.00 ▪ 130.50 ▪ 130.00 |
We are bearish as long as the pair is traded below the downtrend line. |
Disclaimer: The information contained in this publication is produced by Land-FX and not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects Land-FX current judgment and may change without notice. This message is for information purposes only and is not intended as an offer, recommendation or solicitation to buy or sell, nor is it an official confirmation of terms. No representation or warranty is made that this information is complete or accurate. Any views or opinions expressed do not necessarily represent that Land-FX. This email and the information it contains may be confidential, proprietary or legally privileged. You must not, directly or indirectly, use, disclose, distribute, copy or store this message or any part of it if you are not the intended recipient. Unless otherwise stated, any pricing information given in this email is indicative only, is subject to changes and does not constitute an offer to deal at any price quoted.
