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Forex Flash: AUD/USD potential downside ahead – Commerzbank

FXstreet.com (Barcelona) - The selling interest surrounding the Aussie dollar is intensifying on Monday, punishing the cross throughout the session and dragging it to the current intraday lows around 0.9940.

According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, “Looking at the 60-minute chart, the market looks over-extended and we would allow for a small retracement ahead of further losses to the 0.9871/62 major support… While we would allow for this to provoke some profit taking, we would then expect to see the market break lower”.

Forex: EUR/USD glued to 1.2970/75

After quite a volatile session, the single currency seems to have stabilized in the area of 1.2970/75 at the end of the trading session on Monday against the backdrop of an increasing demand for the safe haven USD...
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Forex: USD/CHF consolidates below 0.9600

The US dollar continues to consolidate gains versus the franc after its recent rally paused when reaching a high of 0.9626 last Friday. Being unable to hold above 0.9600, USD/CHF pulled back but found support at 0.9545 and was confined to a sideways phase.
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