Asian shares trading mixed on Monday amid global recession fears and some hopes that soon the global economy will exit the lockdown with some European countries easing the restrictions this week. The New Zealand Prime Minister announced that the country would move out of lockdown this week. Japan reported earlier that the exports drop almost 12% in March, with exports to the United States down over 16%.
Traders will shift their attention this week, to corporate earnings with some of the biggest U.S. companies reporting their earnings later on the week.
Nikkei 225 finished 1.15% lower at 19,669. The Singapore Straits Times is 0.71% lower at 2,595. The Shanghai Composite is 0.50% higher at 2,852, while the Hang Seng Index is 0.25% lower at 24,323.
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AUDUSD Seesaws Around the 50-Day Moving Average
AUDUSD trades slightly lower testing the resistance at the 50-day moving average. The rebound from March multi yeat lows stalled at 0.6446 the previous week. Investors await the RBA minutes from the April meeting and a speech by Governor Lowe.
Immediate support for AUDUSD stands at 0.6336 the daily low. Next support will be met at 0.6260 the low from April 16 trading session. A break below might test 0.6196 the low from April 9.
On the other hand, first resistance stands at 0.6367 the daily high. Above that resistance level, the target will be at 0.6387 the high from Friday’s session. More selling pressure might emerge at 0.6644 the high from April 15.
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