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Forex: AUD/USD finds support around 1.0340

FXstreet.com (Barcelona) - After dipping to session lows in the vicinity of 1.0340, the Aussie dollar found buying interest that lifted the cross to the current levels of 1.0360/65 albeit still trading in the negative ground. In the data front, the Westpac Leading Index rose 0.6% on a monthly basis during February, beating January’s 0.4%.

“Yesterday’s RBA Board Minutes for April were less dovish than the March version, deleting the earlier line ‘further reductions may be required’, which has helped the AUD to rebound”, signalled Robert Henderson, Analyst at NAB.

AUD/USD is now losing 0.25% at 1.0364 with the next support at 1.0335 (hourly lows Apr.16) ahead of 1.0291 (low Apr.15) and then 1.0287 (low Mar.14).
On the flip side, a breakout of 1.0397 (MA200d) would bring 1.0420 (hourly high/low Apr.15) and finally 1.0437 (MA21d).

Forex: USD/JPY retraces weekly losses back to 98.37

The USD/JPY extended its retracement from the fall on Monday and has fully retraced back to Friday’s close at 98.37, where the market is currently quoting at. That area is acting as resistance.
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Forex Flash: Defensive on CAD ahead of BoC decision today – UBS

The Bank of Canada decision on Wednesday could prove to be one of the most decisive for the currency in recent memory. According to Research Analyst Gareth Berry at UBS, “The weakness in data driven by correcting domestic imbalances has intensified of late, and although the market is looking for policy rates to remain unchanged, we see a strong chance that whatever is left of the central bank's tightening bias will be swept away in entirety.”
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