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Forex Flash: Commodity-based currencies cannot escape neutral outlooks – 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, “A neutral bias persists, as resistance is at 1.0398, a break above which would expose 1.0524 – support is at 1.0202 ahead of 1.0115.” In addition, the USD/CAD indicators suggest a neutral outlook, as near-term resistance is at 1.0294 ahead of 1.0342. Moreover, support is at 1.0203 ahead of 1.01564.

Forex Flash: G20 will encourage SK and Taiwan to limit intervention - DBS Group

DBS Group analysts note that in addition to the focus on Japan, the G20 is expected to encourage other Asian countries to limit interventions to exceptional circumstance.
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Forex: EURUSD tumbles on US Philly Fed and IMF’s Lagarde

Boosted by the New York opening, the EUR/USD climbed again to 1.3075 resistance, where it had already peaked during the European morning. Profit taking has since then pulled the pair to 1.3050, but the release of US data triggered a tumble, that erased the market’s daily gains down to 1.3027, as of writing. Also driving the EUR lower are IMF Lagarde’s comments that the ECB clearly has room to ease more and a rumor that a French bank may be in trouble.
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