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Forex Flash: AUD/NZD poised for correction? – Westpac

FXstreet.com (Barcelona) - Having already fallen more than 4 cents since mid-March, the AUD/NZD seems due for at least consolidation near-term, perhaps back to a 1.23 handle for a while. However, “the contrasts between the RBAs clear easing bias and the RBNZs steady hand plus the sharp divergence in relative commodity prices suggests ongoing risks to 1.20-1.2100 multi-week.” writes Global FX Strategist Sean Callow at Westpac.

Meanwhile, “the AUD/NZD is finding the 1.2200 area quite sticky, with the mid-
Feb lows around 1.2145 also likely to provide decent support near-term.” he adds.

Forex: EUR/CAD falls to support at 1.3321/26 after Retail sales in Canada

After experiencing a dramatic downturn during European trading earlier today, the EUR/CAD has fallen even lower as upbeat Canadian data was recently released. The pair has now fallen below multiple supports to trade at 1.3321/26 in these moments, entrenched in negative territory, and down -0.58%.
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US: Redbook Index contracted 2.8% MoM

The Redbook index has contracted 2.8% on a monthly basis and rose 1.8% over the last twelve month in the week ended on April 14, against previous prints at -2.7% and 2.0%, respectively...
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