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Aussie gains on low liquidity

After weaker than expected spending data from the U.S., the dollar sold off across the board. The moves were made on lower than usual liquidity but we won't need to wait too long to see if there will be any follow through.
0.75 level in Aussie held overnight and most of the day's gains were recorded in the European session. Rally after the aforementioned data was quickly sold into. The pair will need to break and hold above 0.7575 - 0.80 to make bulls happy.
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Holiday trading until Tuesday

Good Friday and Easter Monday holidays will make this weekend four days long instead of usual two days. Even though U.S. resumes trading on Monday, full participation is not expected until Tuesday.
We've already been witnessing low liquidity and volatility. Both shall remain on low levels during this period, though there's always a possibility of a sharp move in such conditions.
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Aussie makes new low for the year

Aussie fell overnight on a combination of weaker than expected Retail Sales report (0.3% vs. 0.5% expected and -0.1% previous) and a sell-off in Chinese stock market. The pair followed through in European session and just broke the low that was put in place in April. US are on holiday today and the breakout will likely not extend very far in this low liquidity environment.
April low (0.7533) is backed with Weekly Support 2 (0.7527) and Daily Support 3 (0.7527). Below that, 0.75 level shall offer…
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fxsurprise8 avatar

I rode it down for +62 pips

al_dcdemo avatar

Very well done!

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Markets subdued

Major pairs were trading in tight ranges overnight, which is not surprising at all as the market activity is expected to be subdued today due to holidays in many countries. But there's always potential for outsized moves on lower liquidity in these markets.
Euro cleared stops below 1.10 shortly after the open, but there was no follow through beyond 1.0965 as the pair quickly reversed back towards the big level. It went sideways from there and is awaiting European traders, who will be sitting dow…
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