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Forex: EUR/USD testing intraday highs, around 1.3020

Buying interest is driving the cross higher on Monday, currently testing session highs in the vicinity of 1.3020 as risk-on tone is prevailing among investors.

“The reaction in EUR and USD to the strong US payrolls on Friday underlines that we are back in a textbook step-up: an improvement in the US labour market fuels expectations that the Fed will start to look at its exit, although we do not expect the substantial improvement required for this to materialise until early 2014”, commented A. von Mehren, Chief Analyst at Danske Bank.

As of writing, the pair is advancing 0.17% at 1.3018
Next resistance levels align at 1.3044 (MA10d) followed by 1.3126 (MA100d) en route to 1.3135 (high Mar.8).
On the downside, a dip beyond 1.2956 (Mar.8) would clear the way to 1.2929 (low Dec.11) and then 1.2881 (low Dec.1

Forex: USD/CAD falls to daily lows

After attempting to recover the 1.0300 level but failed, the USD/CAD is trading lower to break down the 1.0265, previous daily low, to test the 1.0260 zone. Currently the pair is trading at 1.0265, 0.15% below opening price action.
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Forex: AUD/USD rises to daily highs

The Australian dollar managed to shrug-off subdued Chine data published over the weekend and erased losses against the greenback to trade firmer on the day. A positive turned in US stocks helped to boost commodity currencies during the NY session, which are among the best performers on Monday.
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