Kickstart your FX trading week starting April 1 with a technical look at major pairs

April 1, 2022

As the new trading week begins, it's important to take a technical look at the major currency pairs to identify potential trading opportunities. Here's a breakdown of the technical analysis for the most popular FX pairs:

EUR/USD: The euro has been trading in a range against the US dollar, with support at 1.1200 and resistance at 1.1400. A break above the 1.1400 level could signal a bullish continuation, while a break below 1.1200 could lead to further downside.

GBP/USD: The British pound has been consolidating against the US dollar, with support at 1.3700 and resistance at 1.3900. A break above 1.3900 could lead to a bullish rally, while a break below 1.3700 could result in further downside.

USD/JPY: The US dollar has been trading in a range against the Japanese yen, with support at 114.00 and resistance at 116.00. A break above 116.00 could signal a bullish continuation, while a break below 114.00 could lead to further downside.

AUD/USD: The Australian dollar has been trading in a range against the US dollar, with support at 0.7500 and resistance at 0.7700. A break above 0.7700 could signal a bullish continuation, while a break below 0.7500 could lead to further downside.

Overall, the major currency pairs are trading in ranges, and traders should be on the lookout for potential breakouts in either direction. Keep an eye on key support and resistance levels, as well as any fundamental developments that could impact the FX market. Happy trading!