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Forex: EUR/USD keeps the positive around 1.2860/65

FXstreet.com (Barcelona) - The single currency remains buoyant around 1.2860/65 on Thursday, in a very volatile session that saw the cross dips to fresh 2013 lows in the boundaries of 1.2740 just to climb soon after to levels around the 200-day moving average at 1.2880/90.

“Comments from ECB President Draghi reiterating that the commitment to the euro is "vastly under-estimated" has helped the euro claw back its earlier losses entirely and a move above $1.2855, especially on a close basis, would be a very constructive technical development”, argued Marc Chandler, Strategist at Brown Brothers Harriman.

EUR/USD is now up 0.08% at 1.2858 and a break above 1.2878 (high Apr.2) would aim to 1.2890 (MA200d) and then 1.2920 (MA21d).
On the flip side, support levels line up at 1.2751 (low Mar.27) ahead of 1.2730 (low Nov.19) and finally 1.2680 (61.85 of 1.2042-13711).

Forex: GBP/USD trading near session highs at the 1.5200 level

The GBP/USD recently peaked at session highs in 1.5203, and is testing the 1.5200 barrier at the time of writing. At this juncture, the cross is operating at a healthy +0.42% gain Thursday during American trading.
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Forex Flash: RBA creates vulnerability for AUD crosses – Westpac

Gold is testing 11-month lows. Copper has fallen about -12% since Jan to 8 month lows. Coal prices remain depressed. Forecasters are increasingly confident that iron ore prices are heading substantially lower in the months ahead, albeit at least in part due to the large increase in supply. Yet the AUD/USD is lingering near 1.0500 once again. Investors could be forgiven for wondering if commodity prices matter at all to AUD at the moment. A check of the correlations of daily log returns between AUD/USD and the Westpac Commodity Futures Index (finds the correlation remains positive but not high, 0.25 on the 30 day rolling window.
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