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Forex Flash: AUD/USD strong support 1.0150/1.0200 remains the risk near term - Westpac

With recent Aussie surge to last 1.0334 USD, “despite mixed rather than overly negative news flow,” says Sean Callow, strategist at Westpac, “A test of strong support around 1.0150/1.0200 remains the risk near term,” the analyst adds, “as the extent of further RBA easing is debated and long Japanese and spec positioning weighs.”

“However,” he expands, “such a move should draw bargain hunters eyeing 1.0450 multi-week and possibly as high as 1.06 end-March, as the Fed continues to print USD and resilient Asian growth supports iron ore prices in H1 13,” Sean concludes.

Forex Flash: USD/CAD losses should remain relatively shallow intraday - TDS

“USD/CAD remains relatively well supported,” say Toronto FX Research Team at TD Securities, “on the basis of the bullishly-oriented DMI oscillator,” they add, “so we rather think that losses should remain relatively shallow intraday,” the team concludes.
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Forex: AUD/USD breaks to fresh 5-day highs above 1.0350

AUD/USD was recently at 1.0340, off fresh 5-day highs at 1.0352, stalling from the rally the pair had enjoyed since early London when printed fresh 3-month lows at Fibo area 1.0225, where yesterday JPM was calling for longs. The pair has been helped on better than expected Aus Westpac consumer confidence, showing a 7.7% increase from a previous of +0.6%, best result in last 12 months.
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