RedstoneFx Analyst
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Redstone Morning Analysis 26/4/2021

AUD/USD

Trend Theme:AUD/USD jumps above 0.7750 amid resurgent US dollar supply.

Trend Review:AUD/USD begins the week on a positive note, rising back above 0.7750, as the US dollar remains on the offers amid a better market mood. Vaccine optimism and hopes of further stimulus back the bulls. 

Today Advise:Bearish

Key Levels:

PPResistance*0.7769 *0.7797 **0.7834 ***
0.7733Support*0.7705 *0.7668 **0.7640 ***

Position Datas:

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USD/JPY

Trend Theme:USD/JPY struggles below 108.00 amid third virus-led emergency in Japan.

Trend Review: USD/JPY fades bounce off intraday low during three-day downtrend. Japan government announced third emergency for Tokyo, Osaka, Kyoto and Hyogo on Sunday. Virus woes battle vaccine hopes, geopolitical and trade headlines offer extra confusion.

Today Advise:StronglyBearish

Key Levels:

PPResistance*108.22 *108.52 **108.88 ***
107.85Support*107.55 *107.18 **106.88 ***

Position Datas:

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WTI/USD

Trend Theme:WTI: Off intraday low but key SMAs to test the bulls.

Trend Review:WTI picks up bids inside a short-term rising channel. Easing Momentum, key SMA challenge corrective pullback. Bears will look for entries below $61.50, buyers to have a bumpy road ahead.

Today Advise:Bearish

Key Levels:

PPResistance*62.54 *63.05 **63.71 ***
61.88Support*61.37 *60.72 **60.20 ***

Position Datas:

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XAUUSD

Trend Theme:Gold picks up bids above $1,772-73 support confluence.

Trend Review:Gold refreshes intraday day near $1780 while snapping a two-day downtrend with mild gains. Monthly support line, 50-SMA restrict immediate downside ahead of early month top. Bulls need a clear break above $1,800 to retake controls.

Today Advise:Bullish

Key Levels:

PPResistance*1792.30 *1807.14 **1818.28 ***
1781.16Support*1766.32 *1755.18 **1740.34 ***

Position Datas:

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