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Forex: USD/JPY sets back to daily lows

The USD/JPY is currently trading lower following the developments in the Italian elections. After peaking to 94.15, the pair has been rejected to trade close to intra-day lows at 93.65. Currently the pair is trading at 93.70.

Earlier in the morning, the USD/JPY rallied to 94.50 as investors took note from reports (not confirmed yet) that PM Abe will nominate dove ADB President Kuroda to lead the BoJ. “The uptrend here has been renewed and my outlook is positive above 93.50 support area, for a rise through 94.30, towards 96.00”, wrote Deltastock.com analyst Stoyan Mihaylov.

In the short term, next support comes at 93.65, followed by 93.50 and 93.30. On the other side, resistances are at 94.10, 94.25 and 94.50.

Forex: USD/CHF retracing losses on the US session

The USD/CHF is bouncing back from the European morning losses to as low as 0.9232 as the pair already trades at 0.9286. Still, the market is lower on the day, and below the 0.9300 surrounding area that was holding the USD/CHF since Thursday. The market has been finding resistance to the upside around 0.9325.
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Forex Flash: NZD/USD weekly outlook subject to both domestic and external stimuli – BNZ

The week ahead is shaping up as a busy one for markets – local highlights will be Thursday’s ANZ business survey, and Friday’s OTI trade data. According to the BNZ Research Team, “We expect business confidence to remain robust (albeit with some negative impacts from the drought), and the OTI terms of trade to bounce some 7.3%. Outcomes along these lines have the potential to drive the NZD higher.”
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