Action Insight Daily Report 4-13-18
| Action Insight Daily Report 4-13-18 | | Australian Dollar Higher after China Data, EUR/AUD in Focus | Australian dollar strengthens broadly in Asia session as lifted mildly by China's trade data. The Aussie is also among the strongest ones for the week, together with Canadian Dollar and New Zealand Dollar. Euro suffered some selloff overnight, in particular against, Sterling. But the common currency quickly found footing against Dollar. Technically, one key focus today is 1.2302 in EUR/USD. Despite yesterday's selloff, EUR/USD is still holding onto this minor support level. That makes the rise from 1.2214 slightly in favor to extend through 1.2396 resistance. Meanwhile, EUR/AUD is also pressing 1.5857 support for the moment. Firm break of which will be an early sign of medium term trend reversal and could drag the cross down to 1.5621 in near term. |  | EUR/AUD Daily Outlook Daily Pivots: (S1) 1.5852; (P) 1.5907; (R1) 1.5945; More.... EUR/AUD drops to as low as 1.5848 today and breaches 1.5857 support. Intraday bias is cautiously on the downside now. Sustained break of 1.5857 will be an early sign of trend reversal and deeper fall should be seen to 1.5621 key support for confirmation. On the upside, above 1.5904 will indicate support from 1.5857 and turn bias neutral first. |  | | GMT | Ccy | Events | Actual | Forecast | Previous | Revised | | 01:30 | AUD | RBA Financial Stability Review | | | | | | 03:10 | CNY | Trade Balance (USD) Mar | -5.0B | 27.8B | 33.7B | | | 03:10 | CNY | Trade Balance (CNY) Mar | -30B | 160B | 225B | | | 06:00 | EUR | German CPI M/M Mar F | | 0.40% | 0.40% | | | 06:00 | EUR | German CPI Y/Y Mar F | | 1.60% | 1.60% | | | 09:00 | EUR | Eurozone Trade Balance (EUR) Feb | | 20.1b | 19.9b | | | 14:00 | USD | U. of Mich. Sentiment Apr P | | 100.6 | 101.4 | | | | |
