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Forex: EUR/USD breaking below 1.33 points to 1.3255 support – Fan Yang

EUR/USD is currently pushing to fresh session lows at 1.3332, down -0.21% from previous weekly close on Friday, and still above Thursday/Friday's lows around the 1.3310/05 area. According to CMT and FXstreet.com Independent Analyst Fan Yang: “A break below 1.33 continues the current bearish correction, with room to 1.3255 support, as well as a rising trendline that goes back to July 2012 when the bullish trend started,” the analyst says.

Mr Yang ads: “A break below 1.3150 is likely needed to extend the bearish scenario beyond a correction,” while “To the upside, a push above 1.34 can neutralize the bearish outlook, but a push above 1.35 is probably needed before opening up any bullish outlook,” he concludes. Later on EU current account at 09:00 GMT followed by ECB Draghi speech at 14:30 GMT will be key risk events for the day, with US markets closed for holiday.

Forex Flash: Next RBA move likely coming in May - NAB

According to the NAB economists, "we continue to expect that weakness in the economy will see
the RBA ease further this year, the next likely move coming in May." The market puts the odds of a March rate cut at around 30% today, with that chance, in view of the bank, "subject to the pending key Q4 partials due from the end of this month."
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Forex Flash: CFTC report presents two big positioning adjustments - TDS

The CFTC Commitments of Traders Report ending February 12 brought two big positioning adjustments, notes the TD Securities Team .
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