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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 - Breaking The Support at 0.9278

USD/CHF has broken the support at 0.9278 (04/06/2015 low). Resistance can be found at 0.9503 (05/06/2015 high). Stronger resistance can be found at 0.9573 (29/05/2015 high). Hourly support is given at 0.9252 (intraday low). Stronger support lies at 0.9072 (07/05/2015 low). In the short-term, the pair is gaining downside momentum, therefore 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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