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Forex: USD/CHF trades narrowly even after Swiss data

FXstreet.com (Barcelona) - The USD/CHF topped at 0.9464 high, much close to the opening, and its narrow trading is now trying the downside as the market quotes at 0.9444 following the release of Switzerland UBS consumption indicator. Its March update came in at 1.25 following a February revision from 1.26 to 1.24.

Spain Producer Price Index is also out: it rose 0.5% in March and 2.2% in February (revised from 2.1%). Investors are expecting the German IFO survey, due at 08:00 GMT, to ease slightly in its April update.

“The USD/CHF has eroded the 0.9383/89 200 day ma and pivot. This is positive price action and we target the 0.9595/0.9609 January 2012 high and the 61.8% retracement of the move down from the 2012 peak, which is expected to act as the break point to the 200 week ma at 0.9650”, wrote Commerzbank analyst Karen Jones, pointing to 2012 peak at 0.9972 on the longer term.

Forex Flash: RBNZ defies norm, portends mixed signals – UBS

The Reserve Bank of New Zealand kept interest rates unchanged at 2.50%. However, it bucked the global trend by signaling the risks were on the upside now by dropping the phrase 'there are both upside and downside risks' from its statement. The RBNZ still expects interest rates to remain unchanged throughout 2013 as inflation is set
'to remain close to the bottom of the target range this year'.
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Forex: NZD/USD jumos to 0.8446/53

The NZD/USD has solidified its grip on the 0.8400 level Wednesday, surging to session highs during European trading after receiving a welcome boost from the RBNZ. In these moments the cross is steadfastly approaching resistance, settling at 0.8446/53 and recording a gain of +0.64% thus far.
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