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AUD/USD: further to run on the downside? - Commerzbank

Analysts at Commerzbank noted that AUD/USD’s correction lower probably has further to run. 

Key Quotes:

"The cross recently topped at 0.8065. Failure at 0.7836 will push the three-month support line at 0.7790 to the fore."

"Above the 0.8065 level the 0.8162/66 May 2015 peak and 50% retracement can be seen. Above there lies the 0.8295 January 2015 high. The longer term outlook is positive. The market has broken higher from a large triangle formation that targets eventually 0.8715 (one year + target)."

US Dollar retreats from 2-week highs, stays positive on day

After refreshing its highest level since late June at 94.04 in the early NA session, the US Dollar Index, which tracks the greenback against a basket
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USD/CAD headed toward highest close in a month

A stronger US dollar pushed USD/CAD to break above last week highs. Near the end of the session is trading above 1.2750...
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