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Forex: AUD/USD retreats from highs

FXstreet.com (Barcelona) - 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.

According to Strategist Sean Callow at Westpac, “The outlook brightens from mid-year though as BoJ QE should dovetail with the Fed’s to push AUD/USD back towards this year’s highs around 1.06”.

AUD/USD is now up 0.36% at 1.0340 facing the next resistance at 1.0354 (MA55d) ahead of 1.0398 (MA200d) and finally 1.0399 (high Apr.16).
On the flip side, a breach of 1.0280 (hourly lows Apr.18) would open the door to 1.0269 (low Apr.18) and then 1.0266 (low Mar.12).

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St. Louis Fed President James Bullard's warning that the Fed may buy more bonds if inflation continues to go down' on Tuesday is a warning signal for markets rattled by the decline in commodity prices and other growth-sensitive assets. Bullard - who earlier this year noted that the unemployment rate could fall to 7% by year-end, expressed significant unease with the excessive focus on the Fed's jobs mandate, while price expectations were starting to drift lower in the background. BoE MPC Member Martin Weale also warned on Thursday that the 'improved' inflation position made him feel there was 'more room for maneuver.
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Forex: USD/CAD establishing fresh lows at 1.0231/35

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.
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