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Forex: USD/CHF pressured ahead of Swiss PMI

FXstreet.com (Barcelona) - The USD/CHF failed to hold at 0.9470 area and eased throughout the Asian session to 0.9444 low, allowing then a rebound ahead of the European shift. The pair got back to its opening price at 0.9465 ahead of Switzerland PMI by SVME, with market consensus suggesting a drop in the expansionary pace, from 50.8 to 50.2 in March.

The Eurozone will be publishing the final reading of Markit manufacturing PMI in March. The EMU unemployment rate and the German CPI will also be updated on the European session, while the US will have ISM New York, Factory Orders and Total Vehicle Sales.

UBS analysts are bullish: “There is a major support at 0.9429. While this holds on closing basis, there is potential for resumption of strength. Resistance is at 0.9528 ahead of 0.9567”, wrote analyst Gareth Berry.

Forex: USD/JPY prints 1-month lows

The USD/JPY is being pressured today again and the 93.00 mark didn’t hold the downside momentum, allowing a drop for the first time in a month. The pair reached as low as 92.57, as investors position themselves ahead of the BoJ policy meeting on Thursday. The pair is printing 1-month lows at this stage, below March 05 low at 92.92, and is getting closer to March 01 low of 92.44.
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The Aussie dollar is extending its upbeat mood hovering over 1.0455/60 on Tuesday, correcting lower after reaching intraday highs in the boundaries of 1.0480 overnight...
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