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EUR/USD downside bias for 1.0662/66 – AceTrader

FXStreet (Barcelona) - The AceTrader Team maintains a negative bias on EUR/USD, anticipating a move lower towards 1.0662/66.

Key Quotes

“Euro's sell off to 1.1118 in New York yesterday after dovish comments from ECB's Benoit Coeure and upbeat U.S. housing data signals erratic up move from March's 12-year trough at 1.0457 has indeed made a temporary top at 1.1467 last Friday and consolidation with downside bias remains for another leg of correction to 1.0662/66, then 1.1020/30 later.”

“On the upside, only above 1.1217 resistance would abort this bearish scenario and shift risk to upside for stronger gain towards 1.1250/60.”

NZD/USD climbs higher towards 0.7400

The New Zealand extends its gradual advance against the American dollar in the mid-Asian session, driving NZD/USD to fresh session highs. The Kiwi was the biggest winner this session as traders wound up their NZD shorts ahead of New Zealand's annual Budget on Thursday.
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AUD/USD break below 0.7865 likely – UOB

Analysts at UOB Group, predict that AUD/USD is likely to break below the key support at 0.7865 and extend its decline in coming weeks.
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