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Forex Flash: USD/CAD grind higher continues, good support on dips seen to the low/mid 1.02 – TD Securities

FXstreet.com (Barcelona) - The USD/CAD again traded in a narrow range for the 4th straight day, closing up 4 pips at 1.0263. The pair seems to be consolidating gains after making a major move up on April 15th.

According to Shaun Osborn, Chief FX Strategist at TD Securities, “USD/CAD short-term price action looks a little heavy, with the market pressuring short-term, consolidation support at 1.0259. The USD has struggled to make much headway through the upper 1.02 region in the past week so the risk of some short term, corrective pressure back to the low 1.02 area may build near term.”

He them commented, “We doubt that near-term downside potential extends much beyond that, however. The broader trend here remains higher and is—still—deeply entrenched in the market. We look or limited downside and more pressure on 1.03+ levels in the next few days.”

Forex: AUD/NZD sharply lower after RBNZ holds rates at 2.50%

The AUD/NZD is down 36 pips at 1.2156. Initially the pair was trading around 1.2220 before plunging after the releases of RBNZ interest rate decision. Aussie CPI will also be released later in the session at 1:30 GMT.
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Forex: USD/JPY at the 99.50 threshold; Looking for the almost there 100.00?

The USD/JPY is testing the 99.50 level again, but as it happened several times on Tuesday, the pair is unable to break it. Excepting the 'bogus' brief collapsed to 98.60, the US dollar has been trading sideways between 99.25 and 99.50 against the yen and now the cross is at 99.43, flat on the day.
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