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CRUDE OIL: Bounces Off Major Support On Recovery

CRUDE OIL faces risk of further corrective upside pressure after bouncing off its key support at 50.50 the past week. Support lies at the 53.50 level where a break will expose the 53.00 level. A cut through here will set the stage for a run at the 52.50 level. Further down, support comes in at the 52.00. On the upside, resistance resides at

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GOLD Prepares For Further Upside Pressure

GOLD eyes further recovery pressure as it closed higher the past week. On the downside, support sits at the 1,500.00 level where a break will turn focus to the 1,490.00 level. Further down, a cut through here will open the door for a move decline towards the 1,480.00 level. Below here if it occurs will trigger further downside pressure aiming at the 1,470.00

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EURUSD Halts Weakness With Upside Pressure Envisaged

EURUSD with a halt in price occurring on Friday, more strength is expected in the new week. Support comes in at the 1.0950 where a break will turn risk to the 1.0900 level. A breach below here will target the 1.0850 level. Further down, support stands at the 1.0800. Conversely, on the upside, resistance comes in at 1.1000 level with a violation of

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NZDUSD Remains On The Offensive On Recovery Pressure

NZDUSD the pair faces further corrective recovery as it closed higher the past week. Support lies at the 0.6250 level where a break will turn attention to the 0.6200 level. A break of here will have to happen to create scope for a move higher towards the 0.6150 level. Further out, resistance resides at the 0.6100 level. Resistance stands at the 0.6350 level.

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GBPUSD Rallies On Price Follow Through

GBPUSD rallied on Thursday as it followed through higher on the back of its Wednesday gain. Support lies at 1.2350 area with a break below that level turning attention to the 1.2300 level. Further down, support lies at the 1.2250 level where a violation will shift focus to the 1.2200 level. Below here will open the door towards the 1.2150 level. On the

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AUDUSD Retains Its Broader Downside Bias

AUDUSD threatens further downside pressure as it sold off on Tuesday. On the downside, support lies at the 1.6650 level. A cut through here will turn focus to the 0.6600 level and then the 0.6550 level where a violation will set the stage for a retarget of the 0.6500 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance

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USDJPY Eyeing Further Upside Pressure

USDJPY eyes further upside pressure on corrective recovery as it closed higher on Monday. On the upside, resistance comes in at 108.50 level. Above this level will turn attention to the 109.00 level. Further out, we expect a possible move towards the 109.50 level on a break of that area, A cut through here will open the door for more gain towards the

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EURUSD Retains Its Medium Term Downtrend

EURUSD retains its medium term downtrend as it looks for more weakness in the new week. Support comes in at the 1.0900 where a break will turn risk to the 1.0850 level. A breach below here will target the 1.0800 level. Further down, support stands at the 1.0750. Conversely, on the upside, resistance comes in at 1.1000 level with a violation of there

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