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USD/CHF shows recovery attempts, as it bottomed at 0.9340

FXStreet (Moscow) - USD/CHF rebounded from Asian low at 0.9333, and is showing some attempts to recover part of the recent losses reaching 0.9358 area in Europe.

Few reasons to buy Swissy

The support area around 0.9330/40 has probably works as a bottom for the recent slide of the pair on the unchanged policy from the SNB. Although the market was surprised by the decision of the monetary authorities, still there are very few reasons for the Swissy to strengthen in current environment. Lack of economic releases may leave the pair range-bound on Friday, however, the first strong US report may trigger another attack on 0.94 area. It means current levels look quite attractive to enter the market with longs.

What are today’s key USD/CHF levels?

Today's central pivot point can be found at 0.9368 with support below at 0.9301, 0.9265 and 0.9198, with resistance above at 0.9404, 0.9471, and 0.9507. Hourly Moving Averages are bullish, with the 200SMA at 0.9354 and the daily 20EMA bullish at 0.9276. Hourly RSI is bullish at 47.

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