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Forex: AUD/USD extends its decline, around 1.0215/20

The Aussie dollar is keeping the late negative bias, trading well below the key 1.0300 figure around 1.0215/20 after dipping to a 4-month low in the boundaries of 1.0200 after Bernanke’s testimony on Tuesday.

In the data space, Australian Construction Work Done in Q4 fell 0.1% vs. 1.5% forecasted and +1.9% previous. “The CWD report is broadly consistent with the RBA’s observation in their February Quarterly Statement that “dwelling investment has begun to recover after declining steadily through 2011/12” and keeps alive their expectation that “business investment is likely to have increased”, noted the research team at NAB.

As of writing, the pair is losing 0.14% at 1.0215 with the next support at 1.0200 (low Feb.26) ahead of 1.0196 (Lower Bollinger) and finally 1.0175 (low Oct.9).
On the upside, a break above 1.0237 (hourly high Feb.27) would open the door to 1.0287 (MA10d) and then 1.0292 (high Feb.26).

Forex: USD/CHF above 0.9300 after Swiss data

The USD/CHF has restored its sideways movement around the psychological level of 0.9300, still incapable of moving higher though. On the upside, the pair could only go as high as 0.9339 in February. For now, the market is quoting just above the handle, but with daily losses since the opening price was printed at 0.9319.
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Forex: EUR/USD trading near session highs at 1.3085/86

The EUR/USD has continued to trade in positive territory, albeit slightly off its highs of 1.3094. At the time of writing, the pair has secured an advance of +0.19% thus far during European trading, operating in the region of 1.3085/86.
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