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Forex Flash: AUD/USD primed to probe 1.0150/200 – Westpac

FXstreet.com (Barcelona) - According to Global FX Strategist Sean Callow at Westpac, “The stabilization in gold is helpful but base metals remain fragile, dovetailing with the China GDP disappointment. Unless China’s Apr flash PMI is well above forecasts, the AUD/USD looks set to probe 1.0150/1.0200 over the week.”

Meanwhile, the AU outright 3-year bonds ran into strong resistance at 200-day MA (2.67%). “While we think the subsequent sell-off can continue in the very near term, longer term we continue to favor buying price dips. Expect positioning to remain light ahead of Wednesday’s CPI and a holiday shortened week.” Callow adds.

Finally, the AU curve remains within its old 50-63bp range. While we have a better bias towards flatteners, we are not expecting the range to break in coming days.

Forex: AUD/USD finds support below 1.0240

The Aussie dollar extended its intraday decline to sub 1.0240 levels, where buying interest has now lifted the cross back to the mid 1.0250s...
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Forex Flash: USD/CAD bullish with scope toward 1.0341 – TD Securities

The push through 1.0270 by the USD/CAD should enable a retest of the low 1.03 area, according to TD Securities analysts: “The USD/CAD is breaking out of the consolidation pattern that trapped the market in a tight range through the latter part of last week (above 1.0250/55) with a little more intent. Initial gains were capped in the 1.0270 area but the push higher seen so far today should see USD/CAD make minor new highs (above 1.0291) at least near-term”, wrote analysts Shaun Osborne and Greg Moore, seeing scope for a push beyond the recent 1.0341 peak. “We spot short-term support now at 1.0270 intraday, stronger at 1.0250. Hourly trend momentum is USD-bullish, aligning with the USD-positive signals on the other short-, medium– and long-term trend momentum oscillator signals”, they added.
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