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Forex Flash: Neutrality persists for commodity-based currencies – UBS

FXstreet.com (Barcelona) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's commodity-based currencies and outline the technical positions.

In terms of the AUD/USD, “A neutral bias persists, as resistance is at 1.0402, a break above which would expose 1.0471 – support is at 1.0291 ahead of 1.0202.” In addition, the USD/CAD indicators suggest a neutral outlook, as near-term resistance is at 1.0285 ahead of 1.0342. Moreover, support is at 1.0192 ahead of 1.0151.

France provides adjustment of €20.0B euros in 2014

The French government announced today introduced in the Council of Ministers a new multi-year plan that will involve budgetary adjustment in the order of €20.0B in 2014, aimed at mitigating the mounting deficit and consolidating domestic public finances.
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Forex: GBP/CAD rattles after BoC rate hold decision

Having declined from its overnight high at 1.5713, GBP/CAD has steadily declined through the early European session to find support at 1.5620.
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