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Forex: AUD/USD firm above 1.03; trend shifting structure still in place

Last week, we pointed out the potentiality for an upward transition in the underlying bearish trend, with the key trigger being the break of Feb 8 swing high at 1.0360, prior to an impulsive correction off multi-month lows.

Ever since, the market has struggled to break past that point, yet one should notice how buying interest has again emerged from below 1.03, with current price consolidating above post RBA minutes.

A real reflection that the control is being gained by bulls would be a sustained break above the stiff resistance 1.0360. In order to accomplish such goal and allow further upside, long plays should overcome next contention are at 1.0330 up to 1.0360, where the sequence of lows from Feb 13 to 15 will make the climb especially challenging. Break below 1.03 sees 1.0270, with slide lower bringing into play the 1.0220. Such price activity would be a canceler for any trend-shifting theory and would expose 1.0170/75.

Forex: AUD/USD breaks to the upside following RBA minutes

AUD/USD printed fresh weekly highs at 1.0321 ahead of RBA minutes, just released, to dip back to 1.0300 round on the statement, as the RBA says the previous cut in rates have worked, and sees scope for further easing. The pair trades last at 1.0316, while Australian ASX index moves back to session highs last up +0.09% for the session, around 4-year highs price zone.
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Japan to decide on BoJ governor after Abe's trip to the US

Japan's economic minister Mr. Amari is crossing the wires saying that the government in Japan will decido on the next BoJ govenror after Primer Minister Mr. Abe returns from his Feb 21-24 trip in the US, which means we are going to have to wait for another week until the decision is made public.
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