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Forex: AUD/USD upside capped by 1.0280

FXstreet.com (Barcelona) - The Aussie dollar is appreciating against the greenback on Friday although it failed to follow through 1.0280 so far, retreating to the current 1.0255/60 region.

In the domestic data front, the AIG Performance of Services index for the month of April fell to 44.1 from 49.6, while Producer Prices rose 0.3% QoQ during the first quarter and 1.6% over the last twelve months.

Against the backdrop of the RBA gathering next week, Analyst Adrian Foster at Rabobank commented, “I do expect one further rate cut this cycle but anticipate it being driven by CAPEX data as the RBA focuses on the economy transitioning away from mining to the non-mining sectors, rather than inflation data. Thus, I don’t see this rate cut coming next week”.

The cross is now advancing 0.06% at 1.0255 with the next resistance at 1.0292 (MA10d) followed by 1.0343 (MA55d) and finall7 1.0358 (MA21d).
On the downside, a breach of 1.0221 (low Apr.23) would expose 1.0202 (low Mar.11) and then 1.0188 (low Mar.5).

Forex: USD/JPY sideways at 98.00

The USD/JPY has been trading sideways around the 98.00 handle, and now an upside attempt above such level was quickly stalled at 98.11, but intentions remain.
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Forex Flash: Next weeks RBA seen as possible catalyst for antipodean pairs – BNZ

The NZD/AUD has come a long way and is almost ‘expensive’ on a fundamental fair-value basis. This raises the risk of a pause or backup in the uptrend, with next week’s RBA meeting a possible catalyst.
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