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USD technicals have turned in the past week...>

FOREX
FOREX: USD technicals have turned in the past week from outright bullish to a
more balanced outlook, according to the MNI FX Technical Signal Monitor.
- EURUSD is generating intraday bullish signals following yesterday's break of
the 1.1250/55 level.
- The DXY extended its downtrend to 96.87, opening key support from the 100-dma
at 96.59. Seasonality patterns have seen the DXY lower in April ten of the last
thirteen years, only to reverse the trend in May.
- Renewed risk appetite boosts the AUD technical picture.
- AUDUSD cleared the 100-dma to 0.7151, targeting a break of the 200-dma at
0.7198.
- AUDJPY closed above the 100-dma to rest on 79.60/65 resistance, a level which
has registered a series of previous highs
- AUDNZD extended its bullish break of the falling wedge pattern to 1.0597. (See
MNI analysis emails - AUDNZD Falling Wedge Mar 28/AUDNZD Bullish Break Apr 5).
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