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Forex Flash: Commodity-based face headwinds – UBS

FXstreet.com (Barcelona) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's commodity-based currencies and outline the technical positions.

In terms of the AUD/USD, “With the trending indicators bearish, resistance at 1.0359 should hold any upside. Support is at 1.0202 ahead of 1.0115. Only a closing break above 1.0359 would suggest a more prolonged recovery to 1.0444.” In addition, the USD/CAD is under pressure this morning but does not change the bullish picture as long as support at 1.0189 holds on closing basis – resistance is at 1.0294 ahead of 1.0342.

US Apr Kansas Fed manufacturing activity improves to 1

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Forex Flash: EUR/USD looks neutral ahead - BTMU

Bank of Tokyo Mitsubishi UFJ analysts have taken a look at EUR/USD and are neutral in outlook and believe that spot will range between 1.2850-1.3250.
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