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Forex Flash: AUD/USD potential advance to 1.0475 – Commerzbank

FXstreet.com (Barcelona) - The Aussie dollar is hovering over 2-week highs above the key resistance of 1.0400 on Friday, as risk appetite continues to fuel the upside.

Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggests the cross followed through 1.0383 (55-day moving average) hinting at the likeliness of further upside ahead, although a close above it is needed to confirm.

“We suspect that the up move is corrective only and we note the TD perfected set up which suggests that the up move should be limited now. There is scope for further strength to 1.0414, possibly the high from the end of January at 1.0475, where would again expect failure”, concludes the expert.

Forex: The GBP/USD extends decline below the 1.5100 mark

The Sterling has declined further on the back of King's comments on more QE and after falling around 100 pips from 10-day highs at 1.5175, the pair has broken down the 1.5100 mark to tests intra-day lows at the 1.5070 area. Currently the pair is trading at 1.5087.
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Wall Street closes Friday lower, but advanced on the week

The US stocks market has closed lower on Friday as investors were cashing up profits. JPM has been the loser of the session as london scandal pressured down the share to lost 2% on the day. Bank of America rose 3.8% following yesterday's Stress test results and Boing advanced 2.1% as company said battery problem is soon to be completelly fixed.
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