The economic calendar is the key driver of the market today with important inflation data and FOMC minutes being released from the US. The expectation is for hawkish comments from FOMC policymakers which could strengthen the US dollar against other currencies like EUR, GBP and AUD. GBP is finding some support despite a bearish trend, while AUD is pressured by hotter than expected US inflation data. Bitcoin and Ethereum are also expected to see some bearish movement.

EUR/USD

• Trend: Bearish
• Resistance: 1.0862, 1.0918
• Support: 1.0785-1.0801
• Key Events: FOMC minutes release (April 10, 18:00 UTC)
• Forecast: Short positions on a rebound from 1.0862 with a target of 1.0785-1.0801. Long positions on a dip below 1.0785-1.0801 with a target of 1.0866.

GBP/USD

• Trend: Bearish short
• Resistance: 1.2705-1.2715, 1.2788-1.2801
• Support: 1.2584-1.2611
• Key Events: FOMC minutes release (April 10, 18:00 UTC)
• Forecast: Short positions on a dip from 1.2705-1.2715 with a target of 1.2584-1.2611. Long positions on a close above 1.2705-1.2715 with a target of 1.2788.

NZD/USD

• Trend: Upward
• Resistance: 0.6060, 0.6107
• Support: 0.6000, 0.5953
• Key Events: None mentioned
• Forecast: Continued upside potential for NZD/USD.

CAD/USD

• Trend: Slightly lower
• Resistance: 1.3572, 1.3666
• Support: 1.3497, 1.3403
• Key Events: Bank of Canada rate decision (April 10)
• Forecast: Wait-and-see approach for CAD/USD before the Bank of Canada decision.

AUD/USD

• Trend: Downward
• Resistance: 0.6638, 0.6698 (possibly temporary due to ECB meeting)
• Support: 0.6500, 0.6480, 0.6410
• Key Events: European Central Bank meeting (April 11)
• Forecast: The report suggests AUD/USD is likely to weaken further, possibly accelerating if the ECB meeting weakens the Euro.

BTC/USD

• Trend: Bearish
• Resistance: $72,200, $73,000
• Support: $68,750, $66,200, $50,000
• Forecast: The report suggests a potential fall for BTC/USD if it breaks the bullish wedge pattern.

ETH/USD

• Trend: Bearish
• Resistance: 3,750, 3,600
• Support: 3,468 , 3,300, 3,230
• Forecast: The report suggests a potential fall for ETH/USD in the short term, with a possibility of a rebound within the symmetrical triangle pattern.

Important Events Today

• US: Consumer Price Index (due at 12:30 UTC)
• US: FOMC Minutes (due at 18:00 UTC)
• Australia: Consumer Inflation Expectations (release expected on April 12)
• China: CPI (release expected on April 12)