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Forex: AUD/USD weakening below 1.0370

AUD/USD is currently 1.0345, off session lows at 1.0337, retracing from fresh weekly highs at 1.0368 reached by late NY session, up +0.41% for the week so far. The Aussie is showing some weakness following not so good domestic economic data, specially against Euro, the strongest currency major as of late, with EUR/AUD at 1.2980, near weekly highs.

According to Valeria Bednarik, Chief Analyst at Fxstreet.com: “the hourly chart maintains a bullish tone according to technical readings, which suggest another round of buying could be seen over the upcoming hours: in that case, price needs to break above 1.0410 resistance to erase last days’ negative bias and attempt an extension towards the 1.0500 price zone. Lose of 1.0330 on the other hand, will expose the downside, again towards 1.0260/70 price zone,” Valeria concludes.

The analyst sees support levels at: 1.0330, 1.0300 and 1.0260, while resistance levels at: 1.0370, 1.0410 and 1.0460.

Forex Flash: USD/CAD will remain supported on dips - TDS

While USD/CAD is currently at 1.0116 retracing from yesterday's fresh 6-month highs at 1.0137, Toronto based FX Research Team at TD Securities “remain bullish USD,” the team says, pointing: “Key short-term support now is 1.0050/1.01,” thinking “USD/CAD will remain well supported on modest dips now.”
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Forex Flash: GBP/AUD to stabilize after 1.4925-1.5050 target hit - Westpac

GBP/AUD has hit Westpac 1.4925-1.5050 short target and as FX strategist Sean Callow notes, "is probably due for at least stabilization, perhaps a push to 1.5150 so long as the RBA continues to threaten further easing and with sterling perhaps a little oversold." Only a break above 1.54, in view of Sean...
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