Forex: AUD/USD trimming losses, around 1.0435/40

FXstreet.com (Barcelona) - The Aussie dollar is trading in the upper end of today’s range around 1.0435/40, despite the risk-off mode prevailing in the markets.

“Tonight, all focus is on US non-farm payrolls, which are expected to rise around 200K in March, although expectations have been wound back somewhat after the 158K gain in ADP The unemployment rate is expected to remain at7.7%”, assessed S.Papadopoulos, Economist at NAB.

As of writing, the pair is losing 0.04% at 1.0430 and a breach of 1.0390 (MA200d) would open the door to 1.0386 (low Apr.1) and then 1.0363 (low Mar.21).
On the other hand, resistance levels line up at 1.0498 (high Apr.3) ahead of 1.0555 (high Jan.24) and finally 1.0560 (hourly high/lows Jan.23).

Apr 5, 2013

Forex Flash: EUR/USD to retrace into 1.3050 then 1.3111/80 - Commerzbank

Since the EUR/USD has broken above its 200 day ma and 3 month downtrend and also charted a key day reversal, Commerzbank analysts decided to “go with the break higher and allow for a deeper retracement into the 1.3050 then 1.3111/80 band, where will look for signs of failure and the resumption of the down move”, wrote analyst Karen Jones, adding that intraday dips lower should now hold over 1.2850 to maintain upside corrective pressure while key support remains 1.2679/61 (61.8% Fibonacci retracement of the July-to-January rise and the November 2012 low). “Longer term we remain negative and target the 78.6% Fibonacci retracement at 1.2400 and then 1.2042, the 2012 low”, she added.

Forex Flash: BOJ swings for the fence - OCBC Bank

Emmanuel Ng of OCBC Bank notes that with the BOJ radically outperforming prior market expectations of the scale and magnitude of its additional monetary accommodation, JPY slumped almost -3.5% against the USD on Thursday with the damage wrought on the JPY from the crosses considerably higher.