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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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EUR/CHF - Passing above 1.0600

EUR/CHF has failed to test resistance at 1.0700 (19/03/2015 high) and is now holding below this level. Hourly support can be found at 1.0234 (20/04/2015 low). The SNB has clearly stated that they will intervene as long as the Swiss Franc is strengthening. We remain bearish on the pair.

The EUR/CHF is digesting its 15 January sharp decline. A key resistance stands at 1.1002 (02/09/2011 low). The ECB's QE programme is likely to cause persistent selling pressures on the euro, which should weigh on EUR/CHF. Supports can be found at 1.0184 (28/01/2015 low) and 1.0082 (27/01/2015 low).

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