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Forex: USD/CHF trading near opening levels at 0.9226/30

The USD/CHF has fallen in recent minutes, moving into the threshold at negative territory as German data is digested by market participants Friday. While the marquee event of the day, i.e. payroll data is surely holding back some traders, the pair has managed to move during European trading and has settled at 0.9426/28.

In Germany, Industrial Production s.a. (MoM) was unchanged at 0.0% in January, against expectations of +0.5%. Moreover, Industrial Production s.a. w.d.a. (YoY) fell -1.3% in the month of January, against a consensus of only -1.2%.

According to Research Analyst Gareth Berry at UBS, “the stance on the USD/CHF remains bullish Friday, with resistance at 0.9513 – a break above would indicate potential for further strength to 0.9609, while support is at 0.9394.”

Germany Jan Industrial Production s.a. w.d.a. (YoY): -1.3%; 0% (MoM)

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Forex: EUR/JPY takes profit at 125.64 after German industrial production

The EUR/JPY is insisting on the upside during the European morning as the Yen shrinks its value and the Euro boosts on rising risk sentiment. Having regained the 125.00 ground on the European opening, the cross rose easily to 125.64 high ahead of German industrial production.
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