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Forex: AUD/USD falls back below 1.0200

FXstreet.com (Córdoba) - The Australian dollar has given up most of intraday gains versus the greenback at the beginning of the New York session amid strong USD demand.

The Aussie had benefited from better-than-expected domestic employment data, but it lost momentum when reaching a high of 1.0253 and slipped back below the 1.0200 mark. At time of writing, AUD/USD is trading around 1.0185, still up 0.1% on the day.

"The hourly chart for AUD/USD shows price below 20 SMA and indicators turning south still above their midlines, while in the 4 hours chart technical readings turned to neutral", says Valeria Bednarik, chief analyst at FXstreet.com. "The dominant trend however is still bearish, with buying interest now aligned around 1.0150".

The analyst locates immediate support levels at 1.0150, 1.0110 and 1.0080, while she sees resistances at 1.0220, 1.0260 and 1.0300.

Forex Flash: USD/JPY strategy profile – Westpac

A lot of data is jammed into Friday’s slate, with a fair amount in the week ahead too. The economy watchers survey will be worth watching Friday given elevated levels. Also on Friday we have weekly MOF data (to 3 May) and more influentially, on Thu 16th. As we move into the post golden week period with summer bonus season not that far away, if Japanese investors are going to start buying into foreign bond markets any time, it should start to show up soon.
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