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USD/CHF remains capped by 0.9600

FXStreet (Córdoba) - USD/CHF has managed to advance Wednesday following two days of losses as the greenback catches a bid tone ahead of the Federal Reserve meeting minutes.

USD/CHF pullback from 14-month highs was contained by the 0.9555 zone Wednesday, from where the dollar staged a mild recovery. However, the pair is having a hard time trying to clear the 0.9600 area where the 100-hour SMA is reinforcing resistance. At time of writing, USD/CHF is trading at the 0.9590 area, 0.25% above its opening price.

From the data front, Swiss jobless rate remained unchanged during September at a seasonally adjusted 3.2% MoM, in line with forecasts.

USD/CHF levels to watch

If USD/CHF breaks above 0.9600 (psychological level/intraday high/100-hour SMA), next resistances are seen at 0.9624 (Oct 7 high) and 0.9686 (2014 high Oct 6). On the flip side, supports could be found at 0.9555 (Oct 8 & 7 lows/10-day SMA), 0.9531 (Oct 3 low) and 0.9500 (psychological level).

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