STIR: Post-ISM Correction Stabilizes, NFP Increasingly In Focus

Reminder, Chicago Fed President Austan Goolsbee is scheduled to appear on FOX News: Special Report with Bret Baier at 1800ET tonight.

• US Data/Speaker Calendar (prior, estimate)
• 02-Apr 0700 MBA Mortgage Applications (-2.0%, --)
• 02-Apr 0815 ADP Employment Change (77k, 120k)
• 02-Apr 1000 Factory Orders (1.7%, 0.5%)
• 02-Apr 1000 Durable Goods Orders (0.9%, 0.9%)
• 02-Apr 1000 Cap Goods Orders Nondef Ex Air (-0.3%, --)
• 02-Apr 1000 Cap Goods Ship Nondef Ex Air (0.9%, --)
• 02-Apr 1130 US Tsy $60B 17W bill auction
• 02-Apr 1500 WH reciprocal tariff annc from Rose Garden
• 02-Apr 1630 Fed Gov Kugler on inflation expectations (text, Q&A)

MNI interviews ISM manufacturing chief on sector outlook amid tariffs -- On MNI Policy MainWire now, for more details please contact sales@marketnews.com

• RES 4: 1.1083 High Oct 2 2024  
• RES 3: 1.1040 High Oct 4 2024
• RES 2: 1.0961 76.4% retracement of the Sep 25 ‘24 - Feb 3 bear leg
• RES 1: 1.0861/0955 High Mar 21 / 18 and the bull trigger   
• PRICE: 1.0808 @ 15:50 BST Apr 1
• SUP 1: 1.0733 Low Mar 27 and a key short-term support    
• SUP 2: 1.0656 50-day EMA and a short-term pivot level      
• SUP 3: 1.0602 Low Mar 5     
• SUP 4: 1.0548 50.0% retracement of the Feb 3 - Mar 18 bull run

The trend condition in EURUSD is bullish and recent weakness appears to have been a correction. MA studies are in a bull-mode position highlighting a dominant uptrend. 1.0733, the Mar 27 low, marks a key near-term support. A move through it would confirm a clear breach of the 20-day EMA and signal scope for a deeper correction towards the 50-day EMA at 1.0656. Key resistance and the bull trigger is 1.0955, the Mar 18 high.