Markets remained in risk-off mode overnight. Geopolitical tensions are weighing on sentiment, and safe havens are in demand. Euro started the new trading week at 1.0570 and managed to recover to 1.0590 later in the session. Resistance is seen at 1.0620, followed by 1.0650. GBP/USD traded in a 1.2365-85 range. Key support is seen in the area between 1.2350 and 1.2360. Should the currency pair break below it, a larger correction seems likely.
USD/JPY rallied from 111.00 to 111.60 in Asia, but ran out of momentum in the late Tokyo session. Resistance above 111.50 remains strong. Meanwhile, the Aussie Dollar extended losses and fell below 0.75. This suggests that a test of 0.74 will follow soon.
The Week Ahead:
Tuesday, April 11th
Wednesday, April 12th
Thursday, April 13th
Friday, April 14th
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