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Forex: AUD/USD retreats from highs

FXstreet.com (Barcelona) - The Aussie dollar quickly climbed to the proximity of 1.0390 on Tuesday, lifted by the bout of risk appetite that hit the markets and pushed both the high-beta currencies and the risk-associated assets to fresh highs.

In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the cross “is probing the 1.0359/60 38.2% retracement, ideally this will hold, however the intraday charts are giving conflicting signals and we remain unable t rule out an extension to the 200 day ma and next Fibo at 1.0397/1.0402”.

At the moment, the cross is up 0.18% at 1.0368 with the next resistance at 1.0375 (MA21d) followed by 1.0399 (high Apr.16) and then 1.0402 950% of Apr. decline).
On the downside, a break below 1.0347 (MA55d) would open the door to 1.0347 (hourly lows Apr.29/30) and finally 1.0297 (MA10d).

Forex: USD/CHF collapses to 11-day lows at 0.9275

The US dollar is falling hard against the Swiss franc following the bad Chicago PMI and despite the US consumer confidence well above expectation figures. The USD/CHF has fallen around 90 pips in the latest two hours from 0.9365 to reach the lowest level since April 19 at 0.9275.
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