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Softer oil prices seen pressuring commodity...>

FOREX
FOREX: Softer oil prices seen pressuring commodity tied FX in early trade. AUD
has failed to build momentum following the announcement of last week's new PM
and holds near the base of its $0.7321-55 range. Expect support on approach to
$0.7300. Having slipped back under $0.6700, NZDUSD extends its corrective
pullback to $0.6678 ($0.6675 - 21-dma). CAD failed to build on Monday's gains as
questions remain whether Canada will accepts the terms of the bilateral deal
between US & Mexico, last C$1.2977. The broken support area at C$1.3000
(C$1.2995 - 100-dma) provides initial resistance, opening C$1.3027/45 (50%/61.8%
C$1.3103-1.2950). A break of C$1.2950 maintains the bearish outlook, targeting
the 200-dma at C$1.2842.  

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