US Factory Orders for March came in at a 1.1% gain. Economists forecasts called for a 1.5% gain. The previous reading was revised down from 1.6% to 1.5%. Although this is still a positive reading, it fails to suggest a rebound in manufacturing after the harsh winter. (source: tradingeconomics.com) The USD Index shows the whipsaw reaction during the 5/2 US session. (USD Index 1H chart, 5/2)The reaction to US jobs data pushed the index to a new high on the week, but failed to close above it and held below the 10500 pivot area. Traders faded USD-strength to levels before the 5/2 US session, completely reversing the NFP-reaction and more. The 4H chart shows that the failure to push above 10500 respected a previous support area as resistance, and thus maintains a bearish outlook for the USD. (usd index 4h, 5/2)In the near-term the 10427 support pivot is in focus, below that, the index has the 2014-low at 10400 in sight.