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Forex: EUR/AUD to session lows on Aussie strength

FXstreet.com (Barcelona) - EUR/AUD is last at fresh session lows around the 1.2670 level, off session highs at 1.2695, on the back of recent Aussie strength, with AUD/USD printing fresh session highs shy of 1.0320. The cross keeps struggling below the key 50% Fibo retrace of the 1.32/1.22 leg down at the 1.27 handle since it first touched it on Tuesday since mid March.

The cross retraces from Wednesday's weekly highs at 1.2735, which also happens to being former descending trendline from the early Feb 2013 highs around the 1.32 level. While writing, as AUD/USD strengthens further above the 1.0330, the EUR/AUD cross prints fresh session lows below the 1.2660, last at 1.2655. The EUR/USD also pushes to the upside, but with less vigor than AUD/USD.

Immediate support to the downside for EUR/AUD lies at yesterday's/Wednesday's lows 1.2620, followed by Tuesday's lows at 1.2590, and April 05 highs at 1.2566. To the upside, closest resistance shows at Monday's highs 1.2675, followed by yesterday's highs at 1.2711, and Wednesday's fresh 5-week highs at 1.2735/40.

China Mar CB Leading Economic Index declines to 0 vs 1.3

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Forex: Choppy trade continues as US Dollar Index remains range bound

The US Dollar Index closed the session down 27 pips at 82.66. Although the DXY did trade as low as 82.46, buyers stepped into take advantage and the pair continued to trend higher to end the day. Advances were once again capped at the downward sloping 20dma (82.71) which will be a key daily pivot to focus on as we end the week. It seems global uncertainty factors such as lower commodity prices and weak economic data is keeping the majority of the major crosses in trading ranges as neither the bulls or bears can sustain a move for an extended amount of time. Thus far during Asia trade, the US Dollar continues to drift lower with the Aussie and Kiwi being the strongest performers.
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