19.04.2021:Trading starts with muted growth. Is it calm before storm?Outlook for USD,USD/JPY,AUD/USD

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الآراء
On Monday, trading is unfolding quietly. The US dollar is still hesitant to pick up a trajectory. This is why in the Asian session, the dynamics of the many currency pairs on the charts are weak. However, this will not last long. Political and economic events, news releases are sure to have an impact on the market sentiment. Let’s get down to our video review!
Today the US dollar index is trading mixed. At the beginning of the session, the quotes rose slightly but then fell to the level of 91.550. Over the weekend, there were no important events. So, on Monday, the market will be relatively calm. A prolonged decline of US Treasuries restrains the growth of the US currency. Yesterday, the 10-year US Treasury yield dropped to a one-month low of 1.528%. The US dollar index is expected to decline throughout the week amid the weakness of the bond market. It is likely to remain at the levels of 91.400 - 91.800 with the likelihood of a decrease.
Tomorrow, the People's Bank of China is going to unveil its benchmark lending rate report. Perhaps this data may somehow change the way the wind is blowing in the market. We will definitely discuss this report!
The yen started the new week with an increase. Yet, it is hard to say for how long it will be. The dollar/yen pair is likely to face a strong support level of 108.40 This is the low of March 10 and 23. If the pair consolidates below this level, it may well slide to a new target of 107.50. However, there is an alternative scenario. The pair may reverse upwards and hit the level of 109.37.
For this reason, it is better to take a wait-and-see approach as today, volatility is low.
The dynamics of the AUD/USD pair are more or less the same. Currently, the bearish bias prevails. Technical indicators also show a downward potential. So, now, the main target is the level of 0.7641, which is the high of December 17, 2020. If it dips below this level, it is likely to tumble to 0.7565.
Perhaps the results of the RBA monetary policy meeting will change the situation. The event is scheduled for tomorrow, You will also learn more about this in our next video review.
Do not miss it! We are sure you will find out a lot of interesting things!

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