Monday trading was muted as some markets were closed for Easter Holidays and the US Dollar Index fell.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. USD/CNH 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
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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