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Forex: USD/CHF back to 0.9300 area

Based on concerns over Italy, the USD/CHF moved back to the 0.9300 area, printing a high at 0.9339. The pair is again trying to breach resistance.

Switzerland employment level eased from 4.122M to 4.116M in Q4 (QoQ), but kept higher than the expected 4.107M.

"The market needs to clear 0.9390 on a closing basis to restore an upside bias longer term. This resistance is reinforced by the .9357 55 week ma", wrote Commerzbank analyst Karen Jones, pointing to 0.9513 (November 2012 high) in case of a move higher.

Switzerland 4Q Employment Level (QoQ) declines to 4.116M vs 4.122M (3Q)

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Forex: NZD/USD rebounds off session lows to trade at 0.8315/18

The NZD/USD has been in decline since losing its grip on the 0.8400 level yesterday amidst the risk-off movement surrounding Italy. Overnight trading has continued the downward path, however the pair has held onto the 0.8300 level (0.8306 session low), with several noteworthy events today that could shape the cross’ short-term path. At the time of writing, the pair has recently bounced off its lows, trading presently at 0.8315/18 during European trading.
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