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Forex: AUD/USD in highs around 1.0360

The Aussie dollar advanced more than a big figure since yesterday’s lows in the area around 1.0230 to the current levels in the boundaries of 1.0360

Analyst Sean Callow at Westpac explained that a test of the 1.0150/200 region is still at risk in the near term, as the long Japanese and speculative positions weight on the cross in collaboration with the likeliness of further easing by the RBA.

“However, such a move should draw bargain hunters eyeing 1.0450 multiweek 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”, concludes the expert.

AUD/USD is now up 0.48% at 1.0352 facing the next resistance at 1.0361 (low Feb.1) and then 1.0400 (high Feb.6).
On the downside, a breach of 1.0313 (MA200d) would clear the way to 1.0293 (hourly high/lows Feb.11) and finally 1.0227 (low Feb.12).

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