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With the PBoC cutting its reserve requirement ratio there has been a move lower in the USD and a reaction higher in commodities. This is helping equities to rebound too.
Traders monitor fluctuations in price to establish trends. One of the ways they do this is by keeping a close eye on two key levels – support and resistance.
A strong move higher on Wall Street into the close on Friday has helped to sustain a more positive attitude to risk into the new trading week. It may be Memorial Day in the US, but the risk rally is holding.
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