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USD/CHF testing 0.9700 barrier

FXstreet.com (Barcelona) - The USD/CHF pared its meager European gains Monday, having fallen off highs at 0.9720 – in these moments the cross has incurred a slight loss of -0.08%, as it is testing the 0.9700 region.

Technically speaking, Mataf.net analysts point to supportive means for the USD/CHF at 0.9648, onto 0.9580, and ultimately 0.9524. Conversely, a break above the 0.9772 handle will initiate resistance at 0.9822 and 0.9896.

According to the ICN.com Technical Analyst Team, “A bearish harmonic Butterfly Pattern might form around 0.9770 levels. Meanwhile, the USD/CHF is still trading positively benefiting from breaching key resistance level of descending channel earlier; linear regression indicators also support the upside move.”

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