It was a quiet Monday as some of the major markets were closed for Easter Holidays. The US market was little changed. The Shanghai composite opened higher but ended up 0.73% lower. The US dollar Index dropped 0.4%, taking a pause after 5 consecutive days of gains. USD/JPY traded near 113.6 this morning, extending its 9th day of losses against USD.  USD/CNH retraced a little bit to the 6.515 area.
Key technical levels to watch:
  • Downtrend channel  formed
  • Testing 50% Fibonacci retracement level at 6.522– immediate resistance
  • 50 Day moving average sloped down
  • RSI at 50%, unbiased 

DBS Group

Key technical levels to watch:

  • MACD indicates near term overbought
  • Immediate resistance level – 16.00-16.23
  • Immediate support level – 14.98 


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