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AUD/USD test 0.9280 on dovish Bernanke

FXstreet.com (Barcelona) -The apparent dovish tone from Benanke’s testimony plus poor data from the US housing sector boosted the AUD/USD to the boundaries of 0.9280, posting fresh weekly highs at the same time.

AUD/USD looking to 0.9300

The next relevant resistance band for the pair will be last week’s peaks around 0.9300 the figure, although that levels could be tested any time soon if the weakness around the greenback intensifies. Next on tap in the FX space will be the Q&A session after Bernanke’s testimony, expected to bring in more fireworks.

AUD/USD levels to watch

The pair is now advancing 0.04% at 0.9256 with the next resistance at 0.9306 (high Jul.11) ahead of 0.9340 (high Jun.26). On the other hand, a dip below 0.9192 (low Jul.17) would bring 0.9152 (MA10d) and finally 0.9122 (high Jul.15).

USD/CAD breaks down the 1.0360 support

The US dollar is trading lower against its Canadian counterpart following the US housing data and just ahead of the BoC interest rate decision. In the latest few minutes, the USD/CAD fell 50 pips from 1.0400 to break previous lows at 1.0360 and test the 1.0350 area.
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Fed's Bernanke: Asset purchases not 'on a preset course'

According to the prepared text of Chairman Ben S. Bernanke's speech, to be delivered later today during his Semiannual Monetary Policy Report to the Congress, the pace of the Federal Reserve's bond purchases is not 'on a preset course', as it depends on the current economic and financial situation.
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