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USD/CHF: correction contained by 0.9520

FXStreet (Córdoba) - USD/CHF retreated from 14-month highs Thursday and is on track to post its first loss in seven days on a combination of a weaker dollar and a stronger euro.

After failing to break above the 0.9595 area over the last two days, USD/CHF entered a corrective phase that it has been contained by the 0.9520 area in a choppy start to the US session. At time of writing, USD/CHF is trading at 0.9535, recording a 0.25% loss on the day.

USD/CHF levels to watch

In terms of technical levels, USD/CHF could find immediate supports at 0.9520 (daily low), 0.9500 (psychological level) and 0.9478 (10-day SMA). On the other hand, 0.9580 (Oct 2 high), 0.9595 (Oct 1 and Sept 30 highs) and 0.9600 (psychological level).

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