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The dollar holds firm across G10 (except.....>

DOLLAR
DOLLAR: The dollar holds firm across G10 (except JPY) at the European crossover.
AUD underperformed after the soft domestic Q4 GDP release & JP Morgan's decision
to alter its RBA call to two 25bps cuts in July and August this year.
- Having based last Thursday at 95.82, the DXY has recovered the 100-dma and is
looking to register its fifth straight day of gains. Resistance is reported on
approach to the 97 level which also holds the 76.4% retracement level of
97.36-95.82, above here opens the Feb 19/Feb 15 highs at 97.08/36.
- Gold technical studies were starting to generate oversold conditions
yesterday, suggesting a short-term recovery. We highlighted in an analysis email
(Gold Pivotal Support - 1320GMT) that the yellow metal was comfortably holding
below 28 on the 9-day RSI, and also trading under the 2% lower Bollinger band/2%
lower 10-dma envelope. Gold based at $1281.25 with the recovery extending back
through $1290 at the European crossover. Near-term resistance at $1298.84 from
the 55-dma.
- Oil futures consolidate in the middle of their respective 30 pip ranges.
- US Trade Balance data the main highlight today at 1230GMT. 

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