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Forex Flash: EUR/USD focused on 1.3264, move above 1.3520 neutralizes outlook – Commerzbank

Commerzbank analysts say that only a recovery above 1.3520 would neutralize the immediate outlook and potentially re-target the 1.3711 February high. In the meanwhile, attention has has reverted to the 1.3264 (3 month uptrend), with the 1.3270/56 band as key near term (16th Jan low and the 61.8% retracement and 3 month support line). "This is likely to hold the initial test – however the risks have increased that we will see an eventual break down through here towards the more important 1.3164 7 month uptrend and a close below here is required to negate the up move completely", wrote analyst Karen Jones.

Forex: USD/JPY fully retraces weekly gains, Yen stronger on G-20 meeting

The USD/JPY failed to extend above the 93.00 mark in early trading and has been falling across the chart as the Yen strengthens as Japan policy intentions risk being publicly condemned at the G-20 meeting. Also, Muto is being reported as the likely new BoJ Governor instead of Iwata or Kuroda. Muto is seen as much less radical in his approach, which disappoints yen bears.
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Forex: USD/CHF attempts at moving higher

The USD/CHF has been attempting at moving higher today, but has remained limited to as high as 0.9226, and now the market is back at the opening price, at 0.9212.
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