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Forex Flash: What can we expect of the EUR/USD? – Commerzbank and UBS

FXstreet.com (Barcelona) - The single currency is trading around the new comfort zone of 1.3070/80 on Tuesday, trimming yesterday’s losses after the disappointing Chinese GDP figures weighted on risk-associated assets.

Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested “we continue to view the corrective high at 1.3150 as an interim peak. Current indications remain that the market will fail here (Elliott wave count and TD perfection set-up) and we look for the resumption of the down move”.

In addition, Strategists G.Yu and G.Berry at UBS remain neutral on the cross, adding, “Support is at 1.2988, a break below this would expose 1.2896. Resistance is at 1.3138 ahead of 1.3228”.

Forex: USD/CHF testing the 0.9300 level after Swiss producer prices

The USD/CHF has been testing the 0.9300 level Tuesday, notably on the heels of some Swiss economic data. During European trading, the cross has managed to seesaw back and forth slightly, though is trading negatively in these moments, down -0.15%.
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Forex: EUR/CHF trading at session highs at 1.2163/65

The EUR/CHF is trading at session highs during European trading Tuesday, having edged higher gradually to test the 1.2163/65 level in these moments. This represents a staunch recovery off of its opening, which was trading as low as 1.2135. At the time of writing, the pair as notched an advance of +0.17%.
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