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Forex Flash: Bunds consolidate as 200-day MA in focus – RBS

According to Technical Markets Strategist Dmytro Bondar at RBS, “Bunds formed a reversal candlestick pattern, suggesting it might test the 142.18 support before launching an assault on 200-day MA. A bearish gap closure and a break of resistance region of 143.00 suggested the price would be likely to see further recovery to 143.20/30 (200-day MA) onto 143.70 after correction is over.”

“Overall however, momentum is turning positive, as the 20/5/5/3 slow stochastic has left the oversold region after forming a positive crossover. Therefore, a move higher towards 143.70 and 144.00 onto possibly 144.56/60 would be expected on a caveat of a sustained break below 142.00.” Bondar suggests.

Forex: USD/CHF testing the 0.9180 resistance

The USD/CHF has recently eased during European trading in recent minutes, falling over 10 pips off its session high of 0.9187 to trade presently at 0.9174/75 at the time of writing. Earlier today in Switzerland, the Producer and Import Prices (YoY and MoM) were reported at +0.8% in January (against expectations of +1.1%) and +0.1% in January (in line with projections) respectively.
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Forex: EUR/NOK taking it easy after Q4 GDP in Norway

The Norwegian krone is losing some ground after the economic activity (mainland) during the fourth quarter expanded 0.3%, below forecasts at +0.4% and down from the previous quarter at +0.8%....
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