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Forex: AUD/USD dips to 1.0400 lows

FXstreet.com (Barcelona) - Aussie has been sold all along the Asia-Pacific on weak commodities and local share markets, leading the loses the Hang-Seng index in Hong-Kong, down more than -2% so far for the session, while in the other hand the Nikkei index in Japan has extended an extra +4% gain to above the 13k level, for the first time since August 2008. AUD/USD has printed fresh session lows at 1.0399, down from NY session highs at 1.0454.

According to FXBriefs.com editor Peter Fell: “Real money buyers again appeared below 1.0400” AUD/USD, while “Intraday buyers between 1.0400/10, more again 1.0380/90 and model stops below 1.0370.” Key level at 1.0385 as potential neckline of a major double high reversal pattern at 1.05 highs, coupled with mentioned stops below, might build a move lower, analysts say, supported on weakness in AUD across the board.

Immediate support to the downside for AUD/USD lies at recent session lows 1.0399, followed by yesterday's/Monday's double weekly low at 1.0385, and March 21 lows at 1.0362. To the upside, closest resistance shows at Tuesday's lows 1.0440, followed by NY highs at 1.0454.

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Forex: EUR/USD negates market sentiment climbing above 1.29

With EUR/USD some how unexpectedly higher above the 1.29, last at 1.2930 off Asian session lows at 1.2920, the pair is getting ready for next big risk event this Friday in the form of US NFP at 12:30 GMT, same hour than US Trade balance. The pair is up +0.88% so far for the week, though still a -2% lower year to date, bouncing strongly from yesterday's fresh 4-month lows at 1.2747 post BCE meeting.
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