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EUR/CHF bounces off lows to retest 1.2300

FXstreet.com (New York) - The EUR/CHF technical cross careened into negative territory Tuesday, breaking briefly below the 1.2300 barrier during European trading.

EUR/CHF roiled on rising sentiments in Europe

Earlier today in the EMU, the ZEW Survey – Economic Sentiment (June) came in at 30.6, compared with a figure of 27.6. Meanwhile in Germany, the ZEW Survey – Economic Sentiment (June) was reported at 38.5, beating expectations of 38.1. Finally, the ZEW – Current Situation (June) yielded a figure of 8.6, missing estimates of 9.5.

At the time of writing, the EUR/CHF foreign exchange rate has bounce off earlier lows (1.2291) to retest the 1.2300 barrier. According to the Mataf.net analyst team, the pair is residing at first support at 1.2299, and will encounter additional measures at 1.2269, ahead of 1.2236. On the ascension, a break above the 1.2362 handle will initiate resistances at 1.2395 and 1.2425.

GBP/JPY retesting the 149.00 level

The GBP/JPY foreign exchange rate eased mightily off of earlier highs during European trading (149.62), following what was otherwise an upbeat data release out of the UK.
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AUD/USD moving lower

A negative bias will remain while capped by 0.9792, the current June high. The 0.9388 support represents a major break down point longer term. A close below here will introduce scope to 0.9147, then 0.8550 en route to 0.8068, the 2010 low.
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