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Daily Analysis of Major Pairs for April 22, 2016 EUR/USD: This market went bearish on Thursday – just in the opposite direction to the USD/CHF which moved upwards that day. The bearish movement on the EUR/USD was not that significant...

AUD/USD Finding Some Support Near 0.7730 Level In tandem with the reversal in other major currencies, the AUD/USD pair too dropped sharply to 0.7732, giving-up over 100-pips from day's high of 0.7834...

EUR/GBP Extends the Drop to 0.7860 EUR/GBP is accelerating the recent breakdown of the key support at 0.7900 the figure, now hovering over fresh lows near 0.7860. EUR/GBP attention to PMIs The European cross is extending its leg lower after the rejection from April’s fresh cycle highs near 0...

GBP/USD Could Re-Test the Mid-1.4200s – Commerzbank Axel Rudolph, Senior Technical Analyst at Commerzbank, believes the pair could re-visit the area of 1.4250 in the near term. Key Quotes “GBP/USD has been rejected by the six month downtrend line at 1...

EUR/USD Retakes and Keeps 1.1300, PMIs Eyed The single currency is looking to consolidate yesterday’s sharp drop vs. the greenback, with EUR/USD now navigating the 1.1300 area...

GBP/USD 1.4300-1.4400 Range Holds Post ECB, the GBP/USD rose to 1.4440 level to test 100-day SMA before erasing all its gains to end in negative territory for second straight day...

US: Mixed Economic Releases - ANZ Research Team at ANZ, notes that the US Philadelphia reversed most of the improvement in March, falling from 12.4 to -1.6 in April. Key Quotes “There was a sharp fall in new orders (0 vs 15.7), employment (-18.5 vs -1.1), and shipments (-10.8 vs 22.1...

EUR: Downside Risk for Flash April PMIs - TDS Research Team at TDS, sees downside risk for flash April PMIs, with no change in both the French Services and German Manufacturing PMIs, against market consensus for upticks in both...

FxWirePro: Indian Rupee Opens Higher at 66.50 Against US Dollar, Intraday Bias Remains Bullish USD/INR is currently trading at 66.52 marks It made intraday high at 66.56 and low at 66.47 levels. Intraday bias remains bullish till the time pair holds key support at 66.32 marks...

FxWirePro: USD/JPY Trades Narrow Range, Capped Below Strong Trendline Resistance at 109.90 US data overnight was mixed, with jobless claims dropping below 250k (one would have to go back to 1973 to find a lower print), but the Philadelphia Fed was back in negative territory...

FxWirePro: USD/SGD Hovers Around Key Resistance at 1.3489, Intraday Bias Remains Neutral USD/SGD is currently trading around 1.3485 marks. It made intraday high at 1.3501 and low at 1.3469 levels. Intraday bias remains neutral till the time pair holds initial resistance at 1.3489 levels...

EUR/JPY: Vulnerable To The Downside With Eyes On Key Support EURJPY: Having the cross closed lower after losing all of its intraday gains on Thursday, further weakness is now envisaged. Support comes in at the 123.00 level where a break will aim at the 122.50 level...

EUR/JPY Tests 125 on BOJ News, Then Retreats The cross in the EUR/JPY reversed losses and spiked almost 50-pips to the north after the yen slumped on the news that BOJ is reported to discuss negative-rates with banks. EUR/JPY fades a knee-jerk spike The EUR/JPY pair now rises 0.53% to 124...

GBP/USD: Sterling Rallied to a Fresh 3-Week High Against the Greenback EUR/USD The main market focus and driver this Thursday, was the ECB and its economic policy meeting, and as expected, the European Central Bank did not announce any new measures, centering on the implementation of the batch of...

USD/JPY Rebounds Sharply Above 110 on BOJ Headlines The USD/JPY pair witnessed a sharp 80-pips rally above 110 barrier in a knee-jerk reaction to the latest BOJ headlines on negative interest rates, as reported by Bloomberg. USD/JPY found support near 109...

ECB Policy Review - RBS Research Team at RBS, suggests that for the ECB, easing skies are still clear even if the helicopters can’t fly. Key Quotes “As expected the ECB left all its key policy settings unchanged yesterday and left the door open to some further easing if needed...

Is the USD Waking Up to Fed Risk Again? – BNPP Research Team at BNP Paribas, notes that the US 2y yields are around their highest levels seen since Fed Chair Yellen’s dovish speech as continued gains in equity and crude prices raises concerns that the Fed could deliver a more hawkish message...

ECB: Draghi Holds Steady and Bats Off Criticism - ANZ Research Team at ANZ, notes that the ECB left policy unchanged overnight, with Draghi reiterating in his introductory remarks that the Governing Council “if warranted to achieve its objective, will act by using all the instruments available wi...

FxWirePro: AUD/USD Tracks Oil Higher, Tests 5-DMA at 0.7769 AUD/USD tracks oil higher, halts 2 consecutive sessions of declines to edge higher in the early Asian session. Pair broke above 5-DMA at 0.7769 to test day's highs at 0...

NZD: RBNZ Likely to Keep OCR Steady Next Week - ANZ Research Team at ANZ, sees the RBNZ maintaining the OCR at 2.25% next week. Key Quotes “We are not buying into the notion that recent developments, particularly the rising NZD, bring an April cut into play...