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Forex: USD/CAD establishing fresh lows at 1.0231/35

FXstreet.com (Barcelona) - The USD/CAD has operated in a rather narrow 35-pip consolidation Friday (1.0231 - 1.0266). However during European trading, the cross has bottomed out at session lows, testing support at the 1.0231/35 level, off -0.25% from its opening.

Mataf.net analysts calculate the means of supportive correction at 1.0232, ahead of 1.0207, and 1.0185. Conversely, a break above 1.0279 will initiate resistive measures at 1.0301 and 1.0326.

“The USD/CAD is extending the sideways trading with some negative pressure since trading opened today affected by the negativity shown on the stochastic. Generally, stability above 1.0185 forces us to extend our upside expectations targeting 10295 levels.” warns the ICN.com analyst team.

Later today at 12:30 GMT, investors will learn of a tranche of economic indicators in Canada, including key CPI figures, measuring for inflation.

Forex: AUD/USD retreats from highs

The upside momentum in the AUD faded in the boundaries of 1.0360 on Friday, dragging the cross back to the 1.0335/40 region as risk aversion is stepping in the markets...
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Forex Flash: EUR/USD to resume drop below 1.3000 and 1.2930 towards 1.2740 and 1.2679/61 - Commerzbank

The EUR/USD has recently failed ahead of the 1.3225/50% retracement and charted a small inside day yesterday. “Current indications remain that the market will remain capped here (Elliott wave count and TD perfection set-up) and we look for the resumption of the down move”, wrote analyst Karen Jones, adding that the market has found some support at 1.3000/1.2995 and “this guards the 200 day ma at 1.2930 en route to the 1.2740 recent low”, while key support remains 1.2679/61 (61.8% Fibonacci retracement of the July-to-January rise and the November 2012 low). “Above 1.3225 will indicate a deeper retracement to 1.3340 and possibly 1.3503 (not favored)”, she concluded.
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