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Forex Flash: Brent Crude technically bullish - Nomura

FXstreet.com (Barcelona) - Nomura strategist Saeed Amen has taken a look at Brent Crude from a purely technical perspective.

Looking at his daily chart he notes that spot is down on the week but he is holding his bullish outlook. He notes thta spot failed to break down through the 200D SMA, which suggests it is acting as a downward support. He writes, “The RSI is also flattening out, suggesting it is close to a short-term low. With bandwidth falling a range-bound move back higher looks more likely than a downward breakout. Our target is 109.60 (20D SMA).”

Forex: USD/JPY breaks lower to 94.79/81

The USD/JPY has fallen off the 95.00 barrier in recent minutes, with investors optimistic of a speedy and painless resolution in Cyprus, perhaps available in a matter of hours. Having trended lower now at -0.25% off its opening, the exchange has settled at 94.79/81 at the time of writing.
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Forex: EUR/USD eases from 1.3000 after ECB rejection of bailout changes

The EUR/USD is becoming more volatile as the US session unfolds and time gets shorter for Cyprus to reach a deal with the Eurozone. After news that the Cypriot ruling party said they are confident that the country will achieve a bailout deal within EU framework over the next hours, MNI has reported that the ECB rejected the changes made by the Cypriot Parliament Committee. The EUR/USD is taking profits from the 1.3000 mark after the latest headlines.
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