US Dollar Poised for Fresh Lows in April

• EURUSD – Euro Likely to Outperform Australian Dollar
• GBPUSD – British Pound Likely set Short-Term Top
• USDJPY – US Dollar to Fall versus Japanese Yen
• USDCHF – Swiss Franc Outlook Uncertain
• USDCAD – Canadian Dollar Forecast Cautiously Bearish
• GBPJPY – British Pound Likely to Pull Back versus JPY

The US Dollar (ticker: USDOLLAR) may soon break lower against the Euro and Japanese Yen, while clear trader indecision suggests that the British Pound/US Dollar pair could have set an important top near the $1.5990 mark.

We have consistently called for US Dollar weakness against key counterparts, but the Greenback refuses to break to fresh lows as the month of March has produced consistently lackluster currency moves. We may need to wait for the new month of April to bring a change of pace and fresh trends.

As it stands, the US Dollar’s failure to break above key resistance suggests it could decline when and if currencies enter new trends through the month of April.

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--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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