Aussie Surges after RBA, Dollar and Euro Soft
Action Insight Daily Report 4-5-22

Aussie Surges after RBA, Dollar and Euro Soft

Australian Dollar rises broadly after a hawkish twist in RBA statement, which hints at earlier rate hike. New Zealand Dollar is following closely as second strongest for now. On the other hand, Dollar and Euro are under some selling pressure. Yen and Swiss Franc are mixed, awaiting more guidance from overall risk sentiment.

Technically, focus will remain on Euro as the selling has somewhat picked up. We'd reiterate that break of 1.0943 support in EUR/USD, and 0.8394 support in EUR/GBP will indicate completion of near term rebound. The development will also revive bearishness for resuming larger down trend through 1.0805 and 0.8201 at a later stage. We'll see.

In Asia, Nikkei closed up 0.19%. Hong Kong HSI is up 2.10%. China Shanghai is still on holiday. Singapore Strait Times is up 0.45%. Japan 10-year JGB yield is up 0.0039 at 0.220. Overnight, DOW rose 0.30%. S&P 500 rose 0.81%. NASDAQ rose 1.90%. 10-year yield rose 0.035 to 2.412.

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Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol

AUD/USD Daily Report

Daily Pivots: (S1) 0.7499; (P) 0.7528; (R1) 0.7573; More...

AUD/USD's rally from 0.6966 resumed by breaking through 0.7539 resistance, and hits as high as 0.7629 so far. Intraday bias is back on the upside. As noted before, the strong break of 0.7555 structural resistance should confirm that whole corrective decline from 0.8006 has completed at 0.6966. Further rise should be seen back to retest 0.8005 high. In any case, near term outlook will now remain bullish as long as 0.7455 support holds.

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EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

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22:30 AUD AiG Performance of Construction Index Mar 56.5 53.4
23:30 JPY Labor Cash Earnings Y/Y Feb 1.20% 0.60% 0.90% 1.10%
23:30 JPY Overall Household Spending Y/Y Feb 1.10% 2.70% 6.90%
04:30 AUD RBA Interest Rate Decision 0.10% 0.10% 0.10%
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07:45 EUR Italy Services PMI Mar 51.5 52.8
07:50 EUR France Services PMI Mar F 57.4 57.4
07:55 EUR Germany Services PMI Mar F 55 55
08:00 EUR Eurozone Services PMI Mar F 54.8 54.8
08:30 GBP Services PMI Mar F 61 61
12:30 CAD Trade Balance (CAD) Feb 2.6B
12:30 USD Trade Balance (USD) Feb -88.5B -89.7B
13:45 USD Services PMI Mar F 58.9 58.9
14:00 USD ISM Services PMI Mar 57.7 56.5