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Forex Flash: USD/CHF buy on dips towards 0.9609 – Danske Bank

The cross is grinding lower on Monday, bouncing off session lows in the proximities of 0.9490 after highs around 0.9530

A.Lohman Rasmussen, Chief Analyst at Danske Bank, commented that daily momentum and moving averages would be supporting the bullish development after the bounce off 0.9023

“An eventual and favored break above the key 0.9498/0.9513 level would build on the market’s earlier multi-month negative channel break and signal an initial extension higher to 0.9609, the 61.8% retracement level of the 0.9972-0.9023 cycle”, the analyst concluded.

USD consolidates as investors assess latest developments

The US dollar trades little changed versus major competitors on Monday as market takes a breather to assess the NFP figures published on Friday and Draghi's speech that followed the ECB meeting. However, commodity currencies are outperforming, accomplishing solid gains versus the dollar despite subdued Chinese data.
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Forex: USD/CAD falls to daily lows

After attempting to recover the 1.0300 level but failed, the USD/CAD is trading lower to break down the 1.0265, previous daily low, to test the 1.0260 zone. Currently the pair is trading at 1.0265, 0.15% below opening price action.
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