Earlier today, the U.S. dollar moved lower against the Swiss franc as investors jumped out to the sidelines and sold the greenback for profits waiting for the Federal Reserve Chair Janet Yellen's speech before the annual Jackson Hole economic symposium on Friday. As a result USD/CHF reversed and invalidated small breakouts above important levels. Does it mean that correction is just around the corner?

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The euro extended losses and hit a fresh 11-month low against the greenback as minutes from the Federal Reserve's most recent meeting showed the central bank debating whether to raise interest rates sooner than expected. In this way, EUR/USD approached an important support zone. Will it trigger a corrective upswing? Or maybe it will be the last stop before new lows?

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Earlier today, the U.K. Office for National Statistics showed that the rate of CPI slowed to 1.6% last month, missing expectations for a reading of 1.8%. Additionally, month-over-month, CPI declined 0.3% in July, compared to expectations for a 0.2% decline. On top of that, core CPI (without food, energy, alcohol, and tobacco costs) rose by 1.8% last month, down from 2% in June, while analysts had expected a rise to 1.9% in July. Because of these disappointing numbers, GBP/USD declined to over a four month low and reached an important support level. Will it will be strong enough to stop currency bears’ charge?

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Earlier today, official data showed that Canada's foreign securities purchases dropped by C$1.07 billion in June, missing expectations for a C$14.68 billion increase. As a result, USD/CAD bounced of the recent lows, but did this upswing change anything in the short-term outlook?

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Earlier today, the European Union's statistics office said that gross domestic product in the 18-member currency block was flat in the second quarter compared with the first. The euro zone's three largest economies failed to grow, which had a negative impact on the EUR/USD pair. Although fundamental factors pushed the exchange lower, we think that there are some technical factors on the horizon that could support a rebound in the near future. What are they?

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