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Forex Flash: AUD/USD resistance remains tough at 1.0520 – Commerzbank

FXstreet.com (Barcelona) - The Aussie dollar is regaining the upper end of the intraday range in the vicinity of 1.0480 on Tuesday, as generalized upside momentum in the risk appetite continues to benefit the high-beta currencies.

After the cross dipped to the area of 1.0355, Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggests, “The market has seen a small rebound off here, but this is viewed as corrective only - last week the market saw repeated failure at the 78.6% Fibonacci retracement at 1.0495, this together with the 2011-2013 at 1.0520 continues to act as tough resistance directly above the market. We look for further losses”.

Forex Flash: BoJ fine with letting yen fall to 100 against USD – UBS

Overnight, Japan's Finance Minister Aso said that the yen is still in the process of correcting. According to Research Analyst Gareth Berry at UBS, “In essence this signals the government is not troubled by the latest wave of yen selling which took the USD/JPY to a new multi-year high of 99.67 overnight.”
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Forex: AUD/USD extends gain to fresh daily highs

The Aussie took another step higher and printed a fresh 5-day high against the dollar at the beginning of the American session. AUD/USD was lifted earlier by comments from RBA board member saying that high AUD does not require policy response.
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