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Forex: GBP/AUD keeps printing post-floating record lows

GBP/AUD is extending further down through the Asian trade, now breaking Monday's low at 1.45 round number for an additional 15/20 pips extension south. The move marks another post-floating record low.

According to Sean Lee, founder at FXWW, "AUD/JPY and GBP/AUD flows were again to the fore in the last 24 hours, with Japanese accounts still chasing AUD/JPY higher after the 97.50 break whilst hedge funds have been selling GBP/AUD in anticipation of a bearish technical close below 1.4550."

While the recent fall opens further downside towards 1.4450, 1.44 and beyond, the upside sees immediate areas of supply between 1.4525/55 - intraday swing highs from March 11 - ahead of 1.46 - breakout point March 11 - .

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Following NAB business service survey coming in softer than previous at 1 for the month of February vs 3 in January, AUD/USD is holding well near session and weekly highs at 1.0280 last, off 1.0286. The pair is up +0.45% for the week so far, and -1.06% for the year. Australian ASX is slightly lower down -0.08% for the day, while US SP500 index closed higher by +0.32% at another fresh 5 year high, highest since Nov 2007.
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Forex: EUR/USD frozen around 1.3030

EUR/USD is not moving much at the moment, flat for the session so far, last at 1.3036, near session highs, and off session lows at 1.3025. Euro is weaker against AUD, printing fresh 6-week lows at 1.2636 EUR/AUD, while local share markets are showing mixed signs, with ASX and Kospi slightly in the negative, while Nikkei, Hang-Seng and Shanghai are above +0.5%. EUR/USD is up a tiny +0.26% so far for the week.
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