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Forex: USD/CAD retracing Asian session gains

As crude oil prices suffered as the week started, so did the CAD, allowing the USD/CAD to move higher during the Asian session to as high as 1.0310. However, the market has been erasing those gains since then and is already moving around 1.0285 ahead of the US session.

No Canada data is due for release today, but US ISM New York will be published at 14:45 GMT and FOMC Yeller and Powell will speak today. Last week, Fed's Bernanke rejected the end of QE3 before the labor market shows substantial improvemen and eased any fears that a 1994-style bond selloff could be brewing,

UBS analysts are bullish on the USD/CAD: “The pair extends its bullish pattern of higher highs - higher lows posting a new recovery high”, wrote analyst Gareth Berry, pointing to resistance at 1.0366 ahead of 1.0447, while support is at1.0217.

Forex Flash: AUD/USD potential upside ahead – Danske Bank

The Aussie dollar is consolidating its losses below the psychological mark at 1.0200 on Monday, after tepid results from the domestic economy and the Chinese economy....
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Forex Flash: AUD/USD bearish while below 1.0291 - Commerzbank

Commerzbank analysts see the AUD/USD falling, now collapsing into 7 month lows. “The 1.0149 October 2012 low has been eroded. Our longer term target is 0.9805, the 2011-2012 support line and then 0.9404 the 2009 peak”, wrote analyst Karen Jones, watching a market directly offered below the 1.0291 resistance line. Above it, there is tougher resistance at 1.0375/80 and at 1.0402 the 55 day ma.
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