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Free AccessTechnical Focus: The USD in general has.......>
FOREX: Technical Focus: The USD in general has started the week on a firmer
note:
- Cable is lower this morning and has erased almost all of Friday's gains. A
move below 1.3084 would open 1.3000 and 1.2978/55. Note trendline support drawn
off the Sep 3 low we discussed last week intersects at 1.2956 today and
highlights the importance of support at 1.2955/56 from a trend perspective.
Initial resistance is today's 1.3215 intraday high.
- USDCAD remains bullish and targets 1.3270 next where a break would open
1.3300. Support lies at 1.3191.
- AUDUSD remains heavy and the focus is on the major support at 0.6671, the Oct
2 low. A break would reinforce this year's bearish theme so far and expose
0.6659 and 0.6638. Resistance is at Friday's 0.6730 high.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.