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Forex: USD/CHF breaks above 0.9500 level

The USD/CHF broke higher Wednesday, following a movement above the 0.9500 level during American trading. After peaking briefly at the 0.9525 level, the cross has surrendered some of its gains, retreating back towards the 0.9510/11 area in these moments. At this juncture the pair is recording steadfast gains of +0.39% above its opening.

“The USD/CHF is trying to move to the upside, which is likely as long as the pair is stable above the 0.9375 level. Despite overbought signals on momentum indicators, we remain positive as long as the pair is stable above the mentioned 0.9375.” notes the ICN.com analyst team.

After breaking the 0.9495 resistance, ICN.com analysts point to additional means of correction at 0.9515, onto 0.9570, and finally the upside barrier of 0.9600. Conversely, the USD/CHF will face support at 0.9465 then of 0.9425, and 0.9400.

Forex: AUD/USD falls below 1.0300

The Aussie has been unable to keep levels above the 1.0300 and after peaking to 1.0330 following the better-than-expected retail sales data, the AUD/USD is falling to break the 1.0300 support and to reach a fresh intra-day low at 1.0290. Currently the pair is trading at 1.0295, just ahead the MA 55 hours at 1.0290.
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Forex Flash: Will structural deficiencies in the UK damage the pound? – UBS

Very weak industrial production numbers on Tuesday have prompted further exasperation for sterling. With growth conditions everywhere else stabilizing, the UK seems the odd one out: defying cyclical tailwinds surely means the structural deficiencies in the economy are now becoming dominant.
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