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Forex: EUR/CHF testing the 1.2300 level

FXstreet.com (Barcelona) - The EUR/CHF has had an interesting week, which continued Friday in its schizophrenic movement and oscillation surrounding the 1.2300 level. In these moments, the pair is testing this barrier, whilst registering a marginal gain of +0.04%, after the release of Swiss data Friday.

In Switzerland, the KoF Leading Indicator came in at 1.02 in April, beating expectations of just 0.98.

According to the UBS Research Team, “There is scope for more EUR/CHF upside as bullish trend persists. We ultimately see resistance is at 1.2349, ahead of 1.2398, while support is at 1.2240 and 1.2214.

Forex Flash: ECB looks to make splash in May – UBS

According to Research Analyst Gareth Berry at UBS, “The market will likely increase its pricing of an ECB rate cut in the run up to the May policy meeting – a weaker euro can also be expected, but for a credit- and funding- starved Eurozone, fears over further capital flight due to return erosion may turn out to be misplaced.”
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Forex: GBP/JPY falls to 152.21/24

The GBP/JPY has fallen off the 152.65 handle Friday, dropping over 30 pips in recent minutes to entrench itself in negative territory. In these moments, the pair is trading at just 152.21/24 during European trading.
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