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Forex Flash: Commodity-based currencies look ahead from present losses – UBS

FXstreet.com (Barcelona) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's commodity-based currencies and outline the technical positions.

In terms of the AUD/USD, “The recent sharp setback does not change the bullish picture as long as support at 1.0348 holds – resistance is at 1.0524 ahead of 1.0604.” In addition, the USD/CAD indicators suggest a neutral outlook, as near-term directional triggers are at 1.0236 and 1.0071.

Gold down over 8% as "ketchup effect" takes hold

Gold has continued its recent collapse, with today´s -7.4% decline the most pronounced decline of the year so far.
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Forex Flash: G20 meeting might mitigate JPY decline – Westpac

According to Global FX Strategist Sean Callow at Westpac, “Regarding the USD/JPY, “The G20 meeting Thursday/Friday might help limit the yen decline on the week, along with potential spillover from commodity and equity weakness – lower US yields certainty don’t help.
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