Yesterday, USD weakened against most major currencies except EUR and CHF. FOMC member Bostic said that the Federal Reserve is ready to provide more support to the U.S. economy if required.
NZD/USD Outlook (14 April 2020)
Overall, NZD/USD is ranging across. Recently, NZD/USD moved higher, breaking above the key level of 0.61.
Earlier today, New Zealand’s treasury department released its forecast, saying that the country’s unemployment rate could reach 25% if the Covid-19 lockdown measures are further extended beyond the initial end date of April 20. Whereas if lockdown is eased this month, unemployment rate would be around 13%.
NZD/USD’s next support level is at 0.60300 and the next resistance level is at 0.62200.
AUD/USD Outlook (14 April 2020)
Overall, AUD/USD is trending upwards. Recently, AUD/USD trended higher, breaking above the key level of 0.64.
AUD/USD’s next support level is at 0.61800 and the next resistance level is at 0.64800.
USD/JPY Outlook (14 April 2020)
Overall, USD/JPY is ranging across. Recently, USD/JPY moved lower, breaking below the key level of 108.
USD/JPY’s next support level is at 106.800 and the next resistance level is at 108.500.
EUR/USD Outlook (14 April 2020)
Overall, EUR/USD is ranging across. Recently, EUR/USD tested but failed to break below 1.09.
EUR/USD’s next support level is at 1.08000 and the next resistance level is at 1.10000.
GBP/USD Outlook (14 April 2020)
Overall, GBP/USD is trending upwards. Recently, GBP/USD trended higher into the resistance level of 1.25500.
Currently, GBP/USD is testing the resistance level of 1.25500 and the next support level is at 1.22400.
USD/CAD Outlook (14 April 2020)
Overall, USD/CAD is trending downwards. Recently, USD/CAD trended lower, breaking the support level of 1.39800.
Earlier today, Saudi Arabia’s energy minister said that they are ready to cut oil production further during the next OPEC+ meeting in June if necessary.
USD/CAD next support level is at 1.38000 and the next resistance level is at 1.39800.