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Forex Flash: AUD/USD is bearish but may still retrace to 1.0384 - Commerzbank

Last week's rally failed at 1.0300 (38.2% retracement), but Commerzbank analysts remain unable to rule out a deeper retracement to tougher resistance at 1.0375/80 and at 1.0384 the 55 day ma, “where we should again see failure”. However, intraday support is at 1.0194 ahead of 1.0117, and “our longer term outlook is negative”, targeting 0.9805 (2011-2012 support line and then 0.9404 the 2009 peak).

“The longer term chart pattern is increasingly viewed as a longer term top”, wrote analyst Karen Jones, looking for a medium term slide back to 1.0000 to unfold, then the base of an 20 month converging range (currently located at 0.9805).

Forex: AUD/USD recovers to 1.0240

The Australian dollar is gaining some traction now, recovering from session low in the proximities of 1.0200 after Chinese New Loans for the month of February fell to CNY 620 billion from CNY 1,070 billion in the...
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Forex Flash: S&P 500 looks bullish ahead - Nomura

Nomura Strategist Saeed Amen has taken a look at the S&P 500 from a purely technical perspective and believe it looks bullish ahead.
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