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Forex: AUD/USD falls to new low below 1.0270

FXstreet.com (Barcelona) - The Australian Dollar is trading heavy along the early going of the Asian session, having briefly breached 1.0275 NY lows to set a new 5-week low at 1.0268. Selling pressure on the metals market is weighing on the Aussie.

In view of Valeria Bednarik, chief analyst at FXstreet.com: " The Australian dollar maintains the negative bias in the short term, as the hourly chart shows indicators still heading lower and price below 20 SMA."

In the 4 hours chart, Valeria sees also "favors another round of selling, although price will find a strong midterm support at 1.0260" she says, adding that "once below this last, 1.0100 comes as a possibility for next sessions."

In the next 10 minutes, China is set to publish relevant housing prices information, an event which may add volatility to the pair.

Forex Flash: NZD/USD not overvalued; 0.90 test at risk - BNZ

Despite the NZD/USD recently rise to levels above 0.86, in view of Mike Jones, currency strategist at BNZ, the currency "is not yet ‘expensive’ according to our model", adding that "the recent highs around 0.8600 can be entirely justified by the augmented set of short-term fundamentals we now use."
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