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Forex: AUD/USD extends losses on stronger USD

The US dollar strengthened broadly, dragging AUD/USD to a fresh 4-month low, after the latest string of US data, that includes the Richmond Fed manufacturing index, new home sales and consumer confidence, came in better than expected.

AUD/USD broke below the 1.0220 level, which was the bottom of its recent range, and fell toward 1.0208, its lowest since Oct 15. At time of writing, AUD/USD is trading around 1.0210/15, 0.4% below its opening price.

On the downside, immediate support for the AUD/USD is seen at 1.0200 (psychological level), ahead of 1.0180 (Oct 10 low), while on the upside, resistances could now be found at 1.0290 (intraday high) and 1.0330 (200-day SMA).

Forex: USD/CAD breaks above 1.0275 to trade at 8-month highs

Following a 30 pips upside movement from 1.0250, the USD/CAD has finally broken above the 1.0275 key resistance to reach levels not seen since June 2012 at 1.0290. Currently the pair is trading at 1.0290, 0.25% above opening price action.
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Bernanke defends Fed easy money policy

Federal Reserve chief Ben Bernanke appeared before the US Senate Banking Committee on Tuesday to testify on the Semiannual Monetary Policy Report and he declared that the central bank would carry on with its QE programs, as the benefits of further easing outweigh the risks for the US economy.
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