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Forex: AUD/USD just below the opening price

In the wake of this week the AUD/USD was hit again, as investors priced in what happened last Friday, going to as low as 1.0204. Support there pulled the market back to the opening price, but price action remains subdued, quoting on "red" around 1.0220/30.

The economic calendar is pretty empty and the market will be watching for headlines regarding the US budget and Eurozone officials. EU Leaders will meet on Thursday night and the new Italian Parliament will be sworn in on Friday. Australia's housing data is due at 00:30 GMT.

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”, according to analyst Karen Jones, pointing to intraday support 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).

Forex: USD/CAD attempts to return to 1.0300

Friday's plunge on stronger than expected employment data in both US and Canada sent the USD/CAD to 1.0234 low and its following bounce wasn't able to reach the 1.0300 line. The cross spent the European morning attempting that but, for now, it has peaked at 1.0294.
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Forex Flash: EUR/USD could retrace to 1.28 in 3m – Rabobank

The shared currency continues to reflect the lack of direction prevailing in the markets on Monday so far, as investors are factoring the last US Payrolls and Italy’s credit rating downgrade by Fitch....
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