Tuesday’s Technical Analysis on EUR/USD,GBP/USD,USD/JPY

At 3:30(GMT), Australia will release the benchmark interest rate for April. BNP Paribas (PA:BNPP) said that recently the Reserve Bank of Australia had never said anything negative to AUD and they tended to make a certain easing stance. The market was very likely to expect the interest rate cut to come earlier (so far 2.0%). Yujiro Goto, Strategist of Nomura reported on April 4 that Japan inflation was expected to contine falling so the Bank of Japan was more than likely to increase the policy easing and the Japanese government may take fiscal stimulus measures as well.
EUR/USD

Seen from the Chart H1, MACD is near the Zero Axis. So far it is in a correction at the top. Seen from the H4 trend as well, the top divergence has forms so the possibility to a further fall down becomes bigger. We are mainly put option buyers in the daytime session. Be aware that put options should be stopped when the price breaks above the 1.1437 resistance level. (HKT)
Support: 1.1350/1.1300 Resistance: 1.1437/1.1500
GBP/USD

Seen from the Chart H1, it is not clear whether it will rise or fall. MACD tends to move above the Zero Axis so we will mainly trade between a small range. Put options can be purchased at 1.4300 resistance level and call at 1.4200 supportive level. (HKT)
Support: 1.4200/1.4171 Resistance: 1.4300/1.4320
USD/JPY

As USD/JPY has room and momentum for a further fall after it broke the 111.00 key support, we mainly continue to buy put options. Put options can be stopped for a while at the previous low point of 110.65 area but call options should still be purchased with caution. Continue to buy puts after it breaks below there. (HKT)
Support: 110.65/107.60 Resistance: 111.20/111.50
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