The US dollar is currently strong due to positive economic data and expectations of the Fed maintaining its hawkish stance. EUR, GBP, and AUD could face headwinds against the USD. JPY remains subdued with limited movement expected. Bitcoin is consolidating, with potential for short-term swings based on technical levels.

EUR/USD:

• Trend: Downward
• Reasoning: Stronger US dollar due to positive ISM data and expectations of the ECB cutting rates more than the Fed.
• Tuesday’s Outlook: Potential for short positions, but be cautious as the market might react unexpectedly.
• Important Events: German inflation report (early Tuesday) and US JOLTs report (Tuesday).
• Key Levels: 1.0568, 1.0611-1.0618, etc. (mentioned in the text)

GBP/USD:

• Trend: Downward, but currently in a choppy phase.
• Reasoning: Similar to EUR/USD, strengthened dollar.
• Tuesday’s Outlook: Watch the level of 1.2541. If breached, short positions might be possible. Otherwise, consider long positions in the morning
• Important Events: US JOLTs report (Tuesday).
• Key Levels: 1.2372-1.2387, 1.2457, etc. (mentioned in the text)

AUD/USD:

• Recent Performance: Started the week with losses due to speculation of RBA turning dovish.
• Key Event: RBA meeting minutes release today (April 2nd). Look for clues on the RBA’s future rate path. A dovish tone could weaken AUD further.
• Possible Scenarios:
  • Dovish minutes indicating a possible rate cut could weaken AUD further.
  • Minutes maintaining hawkish stance could see AUD recover.
• Technical Analysis: Resistance at 0.6519, Support at 0.6480 and 0.6445.

USD/JPY:

• Recent Performance: Little movement.
• Reasoning: Mixed bag of data – manufacturing confidence down, services confidence up. BoJ unlikely to change policy outlook soon.
• Technical Analysis: Resistance at 151.45, Support at 150.93 and 150.51.

BTC/USD:

• Recent Performance: Bouncing above $69,701, struggling to break above $70,000
• Possible Scenarios:
  • If it falls below $71,500, it could reach $65,382.
  • If it breaks above $71,500, it could reach $75,000.
• Overall: Trading within a rectangle pattern. Look for opportunities to buy above $68,750 and sell below $71,500.