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Forex: AUD/USD retraces ground to 1.0300

The Aussie dollar is threatening the key support at 1.0300 on Friday, after hitting overnight tops above 1.0320 on hawkish testimony by RBA’s G.Stevens before the parliamentary committee.

Sean Callow, analyst at Westpac, commented, “Stevens made clear that interest rates would not be used to try to impact on AUD, though of course a strong currency obviously impacted the economy. He said more time was needed to see the full impact of previous rate cuts, though this should be seen as mostly just explaining why the RBA held steady in Feb… However, it is a positive sign for AUD that it bounced sharply amid such negative global news flow”.

At the time of writing, the cross is gaining 0.58% at 1.0305 and a surpass of 1.0325 (MA200d) would open the door to 1.0350 (hourly high/lows Feb.20).
On the flip side, support levels line up at 1.0223 (Lower Bollinger) followed by 1.0221 (low Feb.21) and then 1.0203 (low Oct.15).

Forex Flash: Asian markets mixed, Europe gets ready for EU growth forecasts

Japan's Nikkei Stock Average (+0.68%), South Korea's Kospi (+0.18%), Indonesia's Jakarta Composite (+0.70%) and India's Bombay Sensitive (+0.10%) moved higher, while Mainland China's Shanghai Composite (-0.51%) and Hong Kong's Hang Seng (-0.45%) closed lower on Friday. China House Price Index rose from 0.0% to 0.8% in January. Weak Eurozone PMI data yesterday and this weekend’s Italian election have been priced in.
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Forex: USD/JPY higher on Friday but risks closing week lower

The USD/JPY recovered the 93.00 steadily as the market entered the Asian session, but the upside was limited to 93.40. A very paused price action followed and only recently some movement is seen, dropping to 93.20 and approaching the opening price of 93.11.
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