

EURUSD
The Euro saw weak trading due to the Easter Holidays. However, the markets expect heavy data release later in the week. The EuroZone’s Industrial and Services Data due for release later in the week will give an insight into the European economy and the willingness of the economy to accept stimulus packages from the ECB.
The return of selling pressures on the EURUSD pair’s move would reinforce the previous bearish trend. A break below the support levels at 1.2300 will consolidate the pair and cause a test at the 1.2280 levels. A price reversal above 1.2330 resistance level would temporarily ease the selling pressure.
USDJPY
The US Dollar is slightly lower against the Japanese Yen in Asian trading for Monday’s session in light of weak trading volumes due to the Easter Holidays.
Few Data was released by the Japanese economy, nevertheless this had no significant effect on the but it did not contribute significantly to the price movement of the Japanese Yen. The markets are anticipating the US Jobs Data later for volatility.
Technically, a rebound in the USDJPY pair could reinforce the previous bullishness. The pair’s success in breaching near resistance levels at 106.45 will boost optimism and push the price test to 106.70. A price reversal below 106.30 support levels would however, temporarily ease the bias.
NZDUSD
The New Zealand Dollar fell against the US Dollar on Monday for the second day in a row. The technical reading shows that the pair is trying to absorb the latest selling pressures that the pair is facing. With no clear signals to reverse the overall bearish trend, if the NZDUSD pair manages to break through the resistance levels of 0.7230, the market may correct higher and possibly test the second resistance at 0.7250 levels. A break of support however, at 0.7225 would establish a bearish trend.
XAUUSD/GOLD
Gold prices rose slightly as the week ended last week, largely due to the absence of high volumes, thanks to the Easter holidays. This week may however witness significant movements as the Dollar moves in line with the return of important economic data this week from many global economies.
This week, the US Jobs Report Data, which is used to directly assess the performance of the US Economy and thus make Interest Rate decisions, is due for release later this week. The data is expected by market watchers to push the Dollar against major currencies. In turn, Gold may likely change from its current levels, especially if Interest Rate expectations change.
Technically, the foggy situation clearly affects Gold price trading and with no strong signs of a potential price break in either direction, a break above the top of the close price at 1330 or a break of the close price at 1320 would give more clarity to the expected movement which would be the same direction as the break.