SRO - 2nd Quarter

Corrective Phase for USD

The USD has closed the 1st quarter of 2013 at their highest level supported with the better than expected performance of the US economy with jobs, unemployment and housing figures improving.

And this is inspite of the resurging European crisis with Cyprus adding uncertainty in the market driving the EUro and Cable back to their trend lower with prices below the 1.2880 which is currently the Eruo's main resistance levels at this point. While Cable making a slight recovery @1.5170 resistance price levels from a low of 1.5090 daily price fluctuation on a daily basis.

The opening levels after the Easter holiday trading schedule has apparently been quite thin while major participants are still reluctant to re-establish trade. Although, the established trend for the quarter ending has been defined. The first two weeks of the new quarter and month's trading would be defined with a corrective mode from this previous weekly trend for the USD. Where the cyclical pattern of the USDx would be in a corrective phase until such time a new catalyst would help push another rally. But for now, liquidity and market presence of volatility would gradually build-up as we open the 2nd quarter of trading.

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