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Selling pressure revealed as EUR/USD breaks 1.2900

FXstreet.com (Barcelona) - The EUR/USD is edging lower during the Asia session, taking out the previous day low of 1.2915 and now sitting down 43 pips at 1.2890.

The FXStreet.com Trend Index remains Slightly Bearish on the 1 hour chart, while the OB/OS index remains Neutral. The RSI (14) is also in bearish set up on the 1 hour chart, failing again near the 60 level and now breaking below 40 which confirms the bearish 20 and 60 zone is still intact.

From a longer term technical perspective, moving averages remain slightly bearish on the daily chart, while the RSI (14) is also bearish failing to make advance above the 50 level and now sitting just above 40. Initial support sits at 1.2875 (short term uptrend line on daily chart), while first resistance sits at 1.2925 (previous support, now resistance on 1 hour chart).

Precious metals finish higher, oil unable to follow

The precious metals markets edged higher today, with gold closing up 0.50% at 1393 and silver climbing up 1.16% at 22.62. Oil was unable to follow the lead of gold and silver, closing down 0.25% at 93.65.
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AUD/USD plummets to fresh weekly lows sub-0.96 on the back of broad USD strength

Aussie is currently tanking to fresh session and weekly lows, last at 0.9605 USD, off mentioned lows at 0.9596, few pips shy of Thursday's fresh 11-month lows at 0.9591. The AUD/USD is down -0.48% for the week so far, on tha back of a broad USD move higher.
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