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MIG Bank

MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

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USD/CHF - Pushing Lower

USD/CHF is still trading between the hourly resistance at 0.9573 (29/05/2015 high) and the hourly support at 0.9287 (22/05/2015 low). The technical structure suggests a test of the hourly support. Stronger support lies at 0.9072 (07/05/2015 low). In the short-term, the pair currently lacks momentum but we remain bearish over the next few weeks.

In the long-term, there is no sign to suggest the end of the current downtrend. After failure to break above 0.9448 and reinstate bullish trend. As a result, the current weakness is seen as a counter-trend move. Key support can be found 0.8986 (30/01/2015 low).

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