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AUD/USD: bulls need a close above 0.7110 – UOB

FXStreet (Edinburgh) - The research team at UOB Group notes that a close above 0.7110 could alow for further upside in the pair.

Key Quotes

“As we have pointed out several times in recent updates, despite the short-term AUD strength, only a daily closing above 0.7110 would shift the current neutral outlook to bullish”.

“The quick drop from the high of 0.7130 yesterday is a clear sign that the recent short-term upward pressure has eased but it is too early to expect a sustained down-move. In other words, we remain neutral for now”.

GBP/USD through 1.4500 ahead of ADP

The risk appetite is trying to return to the markets today, now pushing GBP/USD to trade above the 1.4500 handle for the first time since early January...
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US ISM and ADP employment in the limelight - TDS

Research Team at TDS, suggests that the US ADP employment for January gives us a preview of what to expect for the more anticipated BLS report out Friday and is expected to show a slowdown in hiring momentum.
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