Daily Technical Levels Oil, Gold, EUR/USD, GBP/USD, USD/CAD, USD/JPY, AUD/USD, USD/CHF

The Reserve Bank of Australia has left the cash rate at 4.25 per cent after its April board meeting on Tuesday.

The local currency was trading at 104.55 US cents at 1429 AEST just before the decision was announced, and fell to 104.15 US cents.

Crude oil for May delivery rose $US2.21 to settle at $US105.23 a barrel on the New York Mercantile Exchange. It was the biggest gain since Feb. 21. Earlier, futures touched $US102.06 a barrel, the lowest intraday level since Feb. 16. Prices are up 6.5 per cent this year.

Brent oil for May settlement climbed $US2.55, or 2.1 per cent, to end the session at $US125.43 a barrel on the London-based ICE Futures Europe exchange. The European benchmark contract's premium to New York-traded West Texas Intermediate crude widened to $US20.20 at the settle, the most since October. The spread reached a record $US27.88 on Oct. 14.

Crude Oil (May 12) intraday: further upside.

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Pivot: 103.50
Our Preference: LONG positions above 103.5 with 105.7 & 106.2 as next targets.
Alternative scenario: The downside breakout of 103.5 will open the way to 102.15 & 101.
Comment: the RSI is bullish and calls for further upside.

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Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced width=1

 

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GOLD (Spot) intraday: the bias remains bullish./Pivot: 1671.00
Our Preference: LONG positions above 1671 with 1685 & 1692 as next targets.
Alternative scenario: The downside breakout of 1671 will open the way to 1663 & 1659.
Comment: the RSI is above its neutrality area at 50%.

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width=590Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

 

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EUR/USD intraday: rebound./Pivot: 1.3305.
Our Preference: LONG positions @ 1.3315 with targets @ 1.336 & 1.3385.
Alternative scenario: The downside breakout of 1.3305 will open the way to 1.3275 & 1.325.
Comment: the pair stands above its new support and remains on the upside.

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width=590Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

 

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GBP/USD intraday: supported by a rising trend line./Pivot: 1.6000.
Our Preference: LONG positions @ 1.601 with 1.607 & 1.61 in sight.
Alternative scenario: The downside breakout of 1.6 will open the way to 1.5975 & 1.5935.
Comment: the pair is supported by a rising trend line and remains on the upside.

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width=590Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

 

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USD/CAD intraday: under pressure./Pivot: 0.9945
Our preference: Short positions below 0.9945 with targets @ 0.988 & 0.9855 in extension.
Alternative scenario: Above 0.9945 look for further upside with 0.997 & 1 as targets.
Comment: the pair stands below its new resistance and remains under pressure.

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width=590Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

 

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USD/JPY intraday: under pressure./Pivot: 82.25.
Our Preference: SHORT positions @ 82.2 with 81.55 & 81.3 in sight.
Alternative scenario: The upside penetration of 82.25 will call for a rebound towards 82.5 & 82.7.
Comment: the pair is posting a rebound but stands below its resistance.

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width=590Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

 

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AUD/USD intraday: under pressure./Pivot: 1.045
Our preference: Short @ 1.0435 with targets @ 1.0365 & 1.0335 in extension.
Alternative scenario: Above 1.045 look for further upside with 1.047 & 1.05 as targets.
Comment: the pair has struck against its resistance and should face further weakness.

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width=590Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

 

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USD/CHF intraday: under pressure.

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Pivot: 0.90.
Our Preference: SHORT positions @ 0.9035 with 0.9 & 0.8975 in sight.
Alternative scenario: The upside penetration of 0.904 will call for 0.907 & 0.909.
Comment: the pair is under pressure and is challenging its support.

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width=590

Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced

Shayne Heffernan

www.livetradingnews.com

Shayne Heffernan oversees the management of funds for institutions and high net worth individuals.

Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reached a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.