KEY HIGHLIGHTS 

EUR/USD Climbs Toward 1.1350 Amid Weaker Dollar Momentum

Market Overview

EUR/USD rebounded from key support near the nine-day EMA, stabilizing around 1.1340 and ending a two-day losing streak. While the euro has been under pressure due to recent USD strength, ongoing trade and economic uncertainty has weighed on the greenback.

Key Drivers

• A bounce from the 1.1300 support zone.
• Weakened USD due to fading concerns over U.S.-China tariffs and tensions between Trump and Fed Chair Powell.
• DXY touched a weekly high near 99.80 before pulling back.

Technical Overview

Moving Averages

• Exponential
• MA 10: 1.1312 – Positive crossover (Bullish)
• MA 20: 1.1190 – Positive crossover (Bullish)
• MA 50: 1.0946 – Positive crossover (Bullish)
• Simple
• MA 10: 1.1368 – Negative crossover (Bearish)
• MA 20: 1.1148 – Positive crossover (Bullish)
• MA 50: 1.0868 – Positive crossover (Bullish)

Momentum Indicators

• RSI: 62.74 – Buy Zone (Bullish)
• Stochastic Oscillator: 67.43 – Buy Zone (Neutral)

Key Levels

• Resistance: R1 – 1.0938 | R2 – 1.1074
• Support: S1 – 1.0495 | S2 – 1.0358

Outlook

• Overall Sentiment: Bullish
• Market Direction: Buy
• Trade Suggestion:
• Limit Buy: 1.1153
• Take Profit: 1.1473
• Stop Loss: 1.0979

GBP/USD Gains Ground Above 1.3250 Amid Trade Uncertainty

Market Overview

GBP/USD rose to 1.3270 during early Asian hours, driven by a weaker USD and heightened trade policy uncertainty. The Trump administration’s shifting tariff stance, particularly toward China and Canada, weighed on the dollar, providing a lift to the pound.

Key Drivers

• Trade tensions between the U.S. and its global partners.
• Expectations of a potential BoE rate cut in May (82% probability).
• UK economic outlook remains fragile.

Technical Overview

Moving Averages

• Exponential
• MA 10: 1.3219 – Positive crossover (Bullish)
• MA 20: 1.3123 – Positive crossover (Bullish)
• MA 50: 1.2945 – Positive crossover (Bullish)
• Simple
• MA 10: 1.3248 – Positive crossover (Bullish)
• MA 20: 1.3075 – Positive crossover (Bullish)
• MA 50: 1.2915 – Positive crossover (Bullish)

Momentum Indicators

• RSI: 63.11 – Buy Zone (Bullish)
• Stochastic Oscillator: 78.93 – Buy Zone (Neutral)

Key Levels

• Resistance: R1 – 1.3003 | R2 – 1.3106
• Support: S1 – 1.2668 | S2 – 1.2565

Outlook

• Overall Sentiment: Bullish
• Market Direction: Buy
• Trade Suggestion:
• Limit Buy: 1.3114
• Take Profit: 1.3415
• Stop Loss: 1.2935

AUD/USD Pressured by RBA Rate Cut Expectations

Market Overview

AUD/USD remains under pressure as rate cut expectations weigh on the Australian Dollar. While the USD softened due to the Fed’s Beige Book showing early signs of economic cooling, AUD strength was limited amid domestic policy uncertainty.

Key Drivers

• Fed Beige Book: Labor weakness and trade-related economic concerns in the U.S.
• RBA expected to cut interest rates by 25 basis points in May.
• Ongoing trade tensions between the U.S. and China.

Technical Overview

Moving Averages

• Exponential
• MA 10: 0.6337 – Positive crossover (Bullish)
• MA 20: 0.6305 – Positive crossover (Bullish)
• MA 50: 0.6292 – Positive crossover (Bullish)
• Simple
• MA 10: 0.6356 – Negative crossover (Bearish)
• MA 20: 0.6265 – Positive crossover (Bullish)
• MA 50: 0.6293 – Positive crossover (Bullish)

Momentum Indicators

• RSI: 55.03 – Buy Zone (Bullish)
• Stochastic Oscillator: 84.81 – Buy Zone (Neutral)

Key Levels

• Resistance: R1 – 0.6352 | R2 – 0.6400
• Support: S1 – 0.6196 | S2 – 0.6148

Outlook

• Overall Sentiment: Neutral
• Market Direction: Sell
• Trade Suggestion:
• Limit Sell: 0.6385
• Take Profit: 0.6322
• Stop Loss: 0.6413

NZD/USD Rises Toward 0.5950 as Trade Focus Returns

Market Overview

NZD/USD moved closer to 0.5950 as the U.S. Dollar weakened. Markets are awaiting upcoming U.S. economic data releases and further developments in U.S.-China trade negotiations.

Key Drivers

• Dovish expectations for the Fed amid signs of a slowing U.S. economy.
• Predictions of a 25 basis point rate cut by the RBNZ in May.
• Statements from U.S. officials suggest a possible “de-escalation” in trade tensions.

Technical Overview

Moving Averages

• Exponential
• MA 10: 0.5908 – Positive crossover (Bullish)
• MA 20: 0.5845 – Positive crossover (Bullish)
• MA 50: 0.5775 – Positive crossover (Bullish)
• Simple
• MA 10: 0.5928 – Positive crossover (Bullish)
• MA 20: 0.5796 – Positive crossover (Bullish)
• MA 50: 0.5750 – Positive crossover (Bullish)

Momentum Indicators

• RSI: 63.94 – Buy Zone (Bullish)
• Stochastic Oscillator: 86.59 – Buy Zone (Neutral)

Key Levels

• Resistance: R1 – 0.5792 | R2 – 0.5848
• Support: S1 – 0.5610 | S2 – 0.5554

Outlook

• Overall Sentiment: Bullish
• Market Direction: Buy
• Trade Suggestion:
• Limit Buy: 0.5894
• Take Profit: 0.6060
• Stop Loss: 0.5815

Elsewhere in the Forex Market

• USD/CHF: Down 0.54% to 0.8264
• USD/JPY: Down 0.65% to 142.52
• EUR/GBP: Up 0.3% to 0.8561
• EUR/AUD: Up 0.19% to 1.7829
• AUD/NZD: Down 0.09% to 1.0688
• USD/CNY: Down 0.17% to 7.2991
• AUD/SEK: Down 0.13% to 6.1582

Key Economic Events Today