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Forex: AUD/USD entrenched at lows at 1.0223/27

FXstreet.com (Barcelona) - The AUD/USD has taken a tumble Thursday, trading at session lows near 1.0223/27 during European trading. Following mixed overnight data out of Australia, the pair is now suffering from a movement of -0.46% off its opening.

“The AUD/USD is trading in a downside bias, halting the continuation of positivity after breaking 1.0295. Momentum indicators reflect negative signals but, we are tipping an intraday downtrend because the stochastic is in overbought areas.” warns the ICN.com Technical Analyst Team.

According to Research Analyst Gareth Berry at UBS, “The pair targets the support at 1.0221. A break here would be negative opening 1.0115. Resistance is at 1.0313 ahead of 1.0385, suggesting a bearish outlook.”

Forex: USD/CHF eases after Swiss and Euro PMIs

Following the publication of Switzerland SVME PMI, the USD/CHF started to take profits from today’s rise back towards 0.9300. The pair went as high as 0.9296 and has eased to 0.9280, so far, as the European economic calendar gives away new updates. The Swiss PMI surprised investors by rising above the 50.0 threshold, from 48.3 to 50.3 in April, beating 49.0 consensus.
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Forex Flash: Bund performance confirms bullish view – RBS

According to Technical Strategist Dmytro Bondar at RBS, “Bunds tested new highs above the 146.77 resistance confirming the bullish view – the level is the 161.8% Fibonacci projection from the January-March impulse wave.”
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