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Strong Appreciation in Currencies, Upside Resumes in Precious Metals & Mixed Trading in Global Indices

By Research Team Thursday, Apr 15, 2021
AUD/USD

    • 12.30pm ISTD1
    • High0.77542
    • Low0.77056
    • Close0.77496

AUD/USD is trading at 0.77089, 0.08% down since Wednesday. The firmer USD as U.S markets slid down on Wednesday on disappointing Coinbase’s NASDAQ debut which boosted the other currencies. The Australia released better than expected Employment data which supported the AUD/USD. The number of employed people rose to 70.7K against the expectation 35.2K & the Unemployment Rate dropped to 5.6% from 5.8% in the previous month. Last week, the FOMC Minutes stated a continuation in providing necessary aid to economy & not to hike the interest rates until 2022 which cushioned the Aussie. As seen in the chart, the pair crossed a channel pattern & hence, buying on dips may be recommended for the day.

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Daily Outlook

AUD/USD

Intra Day
Near Day

Technical Levels

R3 0.79039
R2 0.78007
R1 0.77604
Turnaround 0.76976
S1 0.76572
S2 0.75943
S3 0.74911
By Research Team Thursday, Apr 15, 2021
COPPER

    • 1.10pm ISTD1
    • High9180
    • Low9134
    • Close9173

Copper is trading at $9166.51, 0.32% up since Wednesday. A heavy buying can be seen in metals after Chinese Trade Balance data showed a rise in imports; indicating an increase in consumption demand of Copper since China is a major consumer of base metals. Also, the soft USD & soaring bond yields on account of rising inflation fears in U.S makes the commodities more expensive. The declining stock level of Copper at London Metal Exchange (LME) further supported the commodity prices. As seen in the chart, the Copper is trading above the short term Moving Averages of MA (10) & MA (20) & hence, buying on dips may be recommended for the day.

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Daily Outlook

Copper

Intra Day
Near Day

Technical Levels

R3 9401.00000
R2 9218.00000
R1 9157.00000
Turnaround 9035.00000
S1 8974.00000
S2 8852.00000
S3 8669.00000
By Research Team Thursday, Apr 15, 2021
INDIA50

    • 12.55pm ISTD1
    • High14684
    • Low14379
    • Close14459

INDIA50 is trading at 14439, 0.24% down since previous day close. The SGX Nifty widely fell down as COivd-19 cases rises at an alarming rate in the country with a shortage of vaccine doses as well. However, the rigorous attempt of approving an emergency use of Russia’s Sputnik drug may remain positive for INDIA50. Besides this, the sell-off in U.S markets amid soft Coinbase’s debut suppressed the Asian markets too. The mixed USD & falling U.S Treasury bond yields amid growing inflation fear in U.S may support indices on long run. As seen in the chart, the INDIA50 is consistently trading within the sideways channel pattern & the RSI line is trading below the mid-level 50 & hence, the cautious trading may be suggested for the day.

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Daily Outlook

INDIA50

Intra Day
Near Day

Technical Levels

R3 15249.00000
R2 14943.00000
R1 14796.00000
Turnaround 14637.00000
S1 14490.00000
S2 14331.00000
S3 14025.00000
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