March seasonals provided a good clue for what might happen in the month.
For starters, March is the second-strongest month for USD/JPY and that was tailwind as the pair rose to the 152.00 level after an early-month dip on BOJ tightening reports.
In March I wrote:
The real trade may be setting up for April strength, which could coincide with stronger signs of central bank easing.
What are those April trends?
- Best month of the year for cable
- April is the strongest month for the S&P 500 and Nasdaq Comp
- Also the strongest month for the MSCI World Index
- Best month of the year for the DAX
- For oil. the April-June period is the strongest of the year
- Copper seasonals remain strong through April
- It’s the strongest month (by far) for AUD/USD and AUD/JPY
- Second best month of the year for EUR/USD
- Second best month for the Shanghai Comp
- Drilling down further, the period of April 5-18 has historically been strongest
Some help for AUD/USD from support nearby and seasonals?
AUDUSD daily