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AUD/NZD warns of a stronger rally attempt

A well bid AUD/NZD elevates the ADX above its 50 level, signal of a highly constructive trend on 1hr charts.

What makes the higher settlement in the ADX rare -although not unprecedented- is the fact that it was printing below 35 ten hours ago.

Such an outperformance encourages momentum traders to pile in, and adjust positions by means of trailing stops. This may have the opposite effect of a corrective slide, driving the prices towards the 200-hour SMA to find less impulsive buyers.

USD/CAD clinches highs near 1.3160

The Canadian dollar remains on the defensive vs. its American neighbor on Tuesday, lifting USD/CAD to session peaks near 1.3160...
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USD/JPY tests 121.00 handle, 2-yr treasury yield at 6-week high

The USD/JPY extended gains to a session high of 121.05 (200-DMA), while the 2-year treasury yield rose to its highest since September 17th.
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