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EUR/CHF wanes towards 1.2500 barrier

FXstreet.com (Barcelona) - The EUR/CHF recently fell off the 1.2530 handle to move back towards the 1.2500 barrier during European trading Friday.

Briefing the technicals, the pair has settled at 1.2502/04 in these moments, incurring a loss of -0.20%. “In terms of the EUR/CHF, resistance prompted the latest setback at 1.2661. While support at 1.2370 holds, the risk is for extension of the bull trend.” notes Gareth Berry, a Research Analyst at UBS.

Earlier today in Germany, the IFO – Business Climate (May) has yielded a figure of 105.7, against expectations of 104.5. In addition, the IFO – Current Assessment revealed 110.0 in May, vs. a projection of 107.2. Finally, IFO – Expectations (May) was reported at 101.6, matching its consensus of 101.6.

Flash: Stay long USD, avoid it when positioning in other currencies – Merrill Lynch Bank of America

Fed message this week was to follow the data.
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GBP/USD oscillates around 1.5100

GBP/USD is trading in a range of 40 pips around the 1.5100 level. There are Durable Goods orders on the calendar coming up at 13.30 BST with consensus for a high reading.
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