The Dollar index is retreating 0.47% at 94.40 and a breakdown of 94.19 (monthly low Sep.18 2015) would open the door to 93.83 (monthly low Oct.15 2015) and then 93.30 (monthly low Jun.18 2015). On the flip side, the next hurdle aligns at 96.06 (20-day SMA) ahead of 96.46 (high Mar.28) and finally 97.15 (200-day SMA).
The barrel of WTI is down 0.97% at $37.98 facing the immediate support at $35.96 (low Mar.15) ahead of $35.29 (100-day SMA) and then $33.71 (55-day SMA). On the other hand, a break above $40.12 (high Mar.28) would aim for $40.95 (200-day SMA) and finally 41.90 (2016 high Mar.22).
Sterling turned lower from the high of 1.4426 levels and and fell to 1.4368 (38.2% of 1.5230-1.3835) levels, before recovering slightly to 1.4390 levels on the back of a rise in the US weekly jobless claims.
Data released in the US showed initial jobless claims in the last week rose by 11K to a two-month high of 276K. Consequently, the Brexit related sell-off stalled. The focus now is on Fed speak and regional Fed manufacturing indices release. Volatility in the pair is likely to remain high on account of Brexit fears.
The USD/CAD pair is retreating 0.37% at 1.2917 and a breakdown of 1.2887 (2016 low Mar.31) would open the door to 1.2827 (monthly low Oct.15 2015) and finally 1.2124 (monthly low Jun.16). On the other hand, the next up barrier aligns at 1.3221 (20-day SMA) would open the door to 1.3370 (200-day SMA) and then 1.3596 (38.2% Fibo of 1.4692-1.2919).
The Gold hurdle is noted at $1240 (falling trend line hurdle), above which prices could test $1244.12 (previous day’s high). Acceptance above the same would expose $1270.93 (Mar 17 high). On the other hand, support is noted at $1223.25 (previous day’s low) and $1215 (Mar 29 low). A break lower would expose $1200 (zero figure + falling channel support on the daily chart).
The USD/CHF pair is now down 0.28% at 0.9622 facing the next support at 0.9593 (2016 low Mar.30) followed by 0.9523 (monthly low Sep.18 2015) and then 0.9473 (monthly low Oct.15 2015). On the other hand, a break above 0.9791 (high Mar.25) would aim for 0.9820 (200-day SMA) and then 0.9912 (55-day SMA).
The GBP/USD hurdle is noted at 1.4436 (Mar 11 high). A violation there would expose 1.4475 (inverse head and shoulder neckline), above which prices may test supply around 1.4514 (Mar 18 high). On the other hand, failure to remain above 1.44 could result in a test of support at 1.4368 (38.2% of 1.5230-1.3835), beyond which prices may drop to 1.43 handle.