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Forex Flash: FX majors look to edge higher – UBS

FXstreet.com (Barcelona) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's majors and outline the technical positions.

Beginning with the USD/JPY, as long as support at 97.85 holds, there’s scope for extension of the broader bull trend. Resistance is at the psychological 100.00, a break above this would be positive, opening 101.45. As for the GBP/USD, “Having closed above 1.5424, the risk is for further upside in the near-term as the trending indicators are bullish. The next major resistance is at 1.5606, while support is at 1.5265.” Finally, regarding the USD/CHF, Initial resistance is at 0.9499, a break above which would open 0.9567 – support is at 0.9387, a move below would expose 0.9319.

Forex Flash: Buy USD/CAD dips while key support at 1.01 holds – TD Securities

Market consensus points to a robust 3.0% advance reading of US Q1 GDP, but such growth “may be a little suspect (inventories) and the more recent slowdown worries—reflected in the consistently disappointing US data outcomes relative to expectations—are perhaps more relevant for investors”, wrote TD Securities analysts Shaun Osborne and Greg Moore, seeing the USD/CAD near-term downside risks to extend to the 1.0175 area (measured move target of the 1.0291/34 breakdown). “We continue to view modest USD/CAD dips as a buy while key support at 1.01 holds”, they said.
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Forex: EUR/CHF falling below 1.2300

The Swiss franc is gathering pace on Friday, recovering from session lows against the single currency above 1.2310 and dragging the cross to the current 1.2265/70 region...
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