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  • Mike Paterson

Euro underpinned still but sellers poised

Thursday 15 April 2021

USD selling still notable overall and we've seen decent gains for the Euro again along with others such as the Aussie. Equities and crypto also remain underpinned amid the better risk tones. US retail sales and NY Empire State data at 13.30 GMT in focus today too.

Large EURUSD sell interest at 1.2000 and we are seeing Euro crosses being capped again by that protection but dip demand still to be expected.

GBPUSD: Now holding 1.3750-60 amid the USD supply but still struggling to breach 1.3800 again after one brief visit above yesterday. EURGBP: 0.8700 proving a step too far again as EURUSD rally caps into the key 1.2000 level but holding 0.8670 still as we continue to range overall.GBPJPY: Found support at 149.80 after another 150.50 retreat but firmer again now on the core pair dip demand/better risk tones. Rinse n repeat atm.

I remain a GBP rally seller across the pairs but still not getting over greedy with expectation on the retreats. Nice when it happens though.

EURUSD: Underpinned now at 1.1950-60 amid the general USD supply and yesterday's vanilla options-based demand but once again sellers poised at 1.2000 per my comments above.USDJPY: Failure at 109.10 yesterday and now testing 108.80 again with dip demand still expected on better risk JPY selling. EURJPY: A break of 130.50 finally but capped at 103.60 helped by the EURUSD supply into 1.2000. Now finding a base at 130.30 as core pairs both find better-risk dip demand.USDCHF: Support coming in at 0.9190 now as EURUSD rally stalls and EURCHF holds rallies through 1.1050 on the firmer risk sentiment with the SNB also ever watchful and ready to help. EURCHF: 1.1000 held and 1.1030 now the latest base helped by the SNB shadow/CHF supply but rally sellers still poised

AUDUSD: Still feeling the love with 0.7680-00 now becoming support having broken and some option interest today now in play at 0.7750-60 to help contain.USDCAD: Capped into 1.2580 yesterday and now falling to 1.2490 amid the softer USD/underpinned oil tones. CADJPY demand notable again too on the better risk sentiment

Let's continue to be careful out there in all things. Staying safe must be our main priority still.

Interbank rates: 08.40 BST

GBPUSD 1.3789

EURUSD 1.1980

EURGBP 0.8687

GBPEUR 1.1511

GBPAUD 1.7785

GBPCAD 1.7224

GBPJPY 150.06

GBPZAR 19.7478

GBPHKD 10.6836

USDJPY 108.83

USDZAR 14.3309

EURJPY 130.37

EURCHF 1.1046

EURHKD 9.2912

AUDUSD 0.7752

USDCAD 1.2490

USDCHF 0.9220

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