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AUD/USD potential for a leg lower still persists – Commerzbank

AUD/USD still risks a correction lower as long as the 0.7980/91 band caps the upside, suggested Axel Rudolph, Senior Technical Analyst at Commerzbank.

Key Quotes

AUD/USD once more failed below last week’s high at .7963 and the July 20 high at .7991. While the .7980/91 July 20 and August 4 highs cap, another down leg should soon be seen”.

“Below the .7814/08 current August low and support line lies good support at .7769/41. It is where the February and March highs meet the 55 day moving average”.

“Above the .8065 level the .8162/66 May 2015 peak and 50% retracement can be seen. Above there lies the .8295 January 2015 high”.

USD/CAD sticks to minor recovery gains, but remains capped below 1.26 handle

The USD/CAD pair trimmed some of its tepid recovery gains and retreated around 25-30 pips from the 1.2600 neighborhood touched earlier today.  The pa
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North Korea: Recurring risk-off – Rabobank

As military options to solve the conflict between the US and North Korea seem infeasible, the most likely course is that trade policy will play a cruc
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