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USD/CHF reverses intraday losses

FXStreet (Córdoba) - USD/CHF recovered from 2-week lows and reversed intraday losses as the dollar strengthened broadly during the American session.

USD/CHF has climbed nearly 100 pips from lows and reached a peak of 0.9558, supported by EUR/USD sell-off on the back of Draghi’s dovish comments. At time of writing, the USD/CHF is trading at 0.9545, recording a 0.30% gain on the day.

USD/CHF levels to watch

As for technical levels, USD/CHF could find immediate resistances at 0.9558 (intraday high), the 0.9590/0.9600 area (100-hour SMA/psychological level/Oct 8 high), and 0.9624 (Oct 7 high). On the flip side, supports could be found at 0.9500 (psychological level), 0.9468/66 (Oct 9 low/21-day SMA) and 0.9451 (Sept 25 low).

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