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Forex: AUD/USD falls below 200-day SMA

FXstreet.com (Córdoba) - Following a short-lived bounce that was capped by the 1.0420 area, the Australian dollar resumed its decline versus the greenback and hit yet another low as US markets opened negatively and gold continues to drag.

AUD/USD slid back below the 1.0400 mark and the 200-day SMA (1.0393), stretching to a low of 1.0383 so far, last seen Apr 8. At time of writing, the pair is trading around 1.0385, 1.1% below its opening price.

As for technical levels, if the AUD continues to weaken, next supports could be found at 1.0345 (Apr 8 low) and 1.0300 (psychological level), while resistances in case of bounces might be faced at 1.0420 (intraday level), 1.0465 (200-hour SMA) and 1.0500 /10 (psychological level/100-hour SMA).

Forex: EUR/USD remains below 1.3100 after US housing

The EUR/USD recovered most ground just ahead of the NY opening and NY empire state manufacturing index, reaching 1.3108, but disappointment spread across the market again and the pair has been trading mostly below 1.3100 since then. Currently at 1.3090 after the publication of US housing data by NAHB.
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Forex Flash: USD/CAD with very bullish potential – TD Securities

TD Securities analysts see quite choppy short-term trade patterns but with a powerful sharp extension higher in spot in the overnight market, pushing through minor trend resistance in the upper 1.01 area. “But, so far, resistance around 1.0235 has held. We look for support now on dips to the 1.0180 area intraday. A push through 1.0235 is bullish from a short-term point of view (and beyond in all likelihood)”, wrote analysts Shaun Osborne and Greg Moore, suggesting that the correction lower from above 1.03 may be running out of steam and that we rather thought USD/CAD was near more attractive buying levels (sub-1.01). “While intraday gains in USD/CAD have stalled in the low 1.02 area (reflecting the above noted 1.0235 resistance zone, the 40-day MA at 1.0211 and the redrawn the channel off the early March highs at 1.0207), we still think the set up here is potentially very bullish”, they added
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