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Flash: Bear pressure is easing up on USD/CAD - TDS

FXstreet.com (Barcelona) - Despite no indication of strong signs of a rebound are present at this point, bear pressure is easing up on USD/CAD, according to Shaun Osborne, Chief FX Strategist at TDS.

The formation of a descending wedge pattern over the course of the past week, is, in view of Osborne, "synonymous with weakening downward momentum." The abrupt bounce off 1.0150 level, while not enough positive signs of a sustained price
rotation higher, suggest that the strong selling pressure is unlikely to continue, Osborne adds.

NZD/USD looking for bids near 0.8000

The NZD/USD experienced a volatile day of price action, at one point trading as high as 0.8098 but then losing its bid and closing down 51 pips at 0.7988.
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Commodities Brief: Precious metals still searching for direction

The precious metals markets continued their sideways drift, with gold trading in a very narrow range and closing down 0.43% at 1390 while silver gave up 1.3% to finish at 21.82.
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