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Flash: FX majors collect themselves after wild Wednesday – UBS

FXstreet.com (Barcelona) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's majors and outline the technical positions.

Beginning with the USD/JPY, after posting new recovery high, there is potential for a test of the major resistance at 105.60. Support is at 101.83 however. As for the GBP/USD, “The latest weakness reinforces the broader bear trend as the pair closed below 1.5128. There is scope for further weakness and no major support until 1.4832. Resistance is at 1.5174, suggesting a bearish near-term outlook.”

Finally, regarding the USD/CHF, the pair posted a new recovery high yesterday and the potential is for extension of the strength to 0.9899 and then the main 0.9972 – support is at 0.9679.

Flash: USD/CAD dips are a buy – TD Securities

TD Securities research team said that the technical picture looks a little less compelling for the bullish USD/CAD view but they see is no clear reversal in the trend, just a pretty big dent at this stage. They still think USD dips are a buy.
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EMU: Flash Consumer Confidence up to -21.9 in May

The European Commission released preliminary Eurozone Consumer Confidence data which points to an increase to -21.9 in May, from -22.3 in April and slightly below expectations of rising to -21.8.
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