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Forex: USD/CHF looking at 0.9200 door

Yesterday's upmove was capped by the 0.9200 mark, where it has found resistance and pulled the USD/CHF down to 0.9175 area. The market is currently down by -0.08% on the day as investors await Switzerland Real Retail Sales.

Earlier, German trade data came out with wider than expected surplus (€16.8B vs €14.8B consensus) and current account (€17.3B vs €17.0B consensus). December (MoM) exports (+0.3% vs +1.3% consensus) and imports (-1.3% vs -1.4% consensus) disappointed.

“Intraday rallies are likely to now find that 0.9206/18 offers nearby resistance (minor Fibonacci retracement and 55 day ma) and we may see a slight pull back from here”, wrote Commerzbank analyst Karen Jones, pointing to the clearing of 0.9390 to negate the longer term negative bias.

Forex: EUR/USD muted after French confidence

The sentiment surrounding the shared currency remained apathetic after the BoF Business Sentiment improved to 95 during January, beating estimates at 93 and prior reading at 94. The reading is...
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Forex Flash: EUR/USD targets 1.3270/56 - Commerzbank

Commerzbank analysts are witnessing a deeper corrective phase now: “We target the 1.3270/56 zone. This is the 16th Jan low and the 61.8% retracement, however there is potential for a slide back to the 1.3220 3 month support line”, wrote analyst Karen Jones, suspecting that there was a false break higher. “However key support remains the 1.3125 6 month uptrend and a close below here is required to negate the upmove completely”, she added, pointing to intraday rallies to find resistance at 1.3580/1.3600, while initial resistance is 1.3458.
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