Stevens's dovish speech at a conference in New York puts pressure on AUD. The aussie edge lower against USD and EUR but muted against JPY at the Asian session. The cross found support between 1.3680 50Msma and 1.3660 200Wsma. Stevens said further rate cuts need to be on the table. Official rate interest cuts as early as next month. Technically, the cross favors bears on all time frames. The last hope for bulls finds at 1.3660. On euro, the Greece issues are worsening the currency. The euro group of finance ministers will meet this Friday on April 24. Parallel resistance is seen at 1.4023 (double top in the daily chart) and at 1.4036 20Dsma. In the hourly chart, the cross gave an upside breakout from the bullish inverse head and shoulder pattern. The cross can stretch maximum 1.3985 and 1.4020. Use rises to sell with sl 1.4036 20Dsma on a daily closing basis with targets at 1.3900, 1.3825, and 1.3785. Intraday support is found at 1.3900. Below 1.3890, panic will be triggered. Weekly resistance is seen at 1.4070. Minor bullish momentum is expected above 1.4075.
Trade: Use sell to sell between 1.3980 and 1.4020 sl 1.4036.
In case the level of 1.3980 is not reached, sell below 1.3880.
