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Comes Off Highs


Crude futures are slightly lower in Asia-Pac trade amid general risk off sentiment but are holding most of the rally seen over the past two days. WTI is down $0.57 from settlement at $73.06/bbl, Brent is down $0.60 at $75.45/bbl. The move lower comes as the greenback picks up from Thursday's closing lows, USD weakness after Wednesday's Fed decision helped buoy commodities markets across the board. Despite the softness oil is still on track for the second consecutive week of gains with WTI currently up 1.35% for the week. From a technical perspective support is seen at $69.71 the 50- day EMA, Brent also has support at the 50-day EMA of $73.66.

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