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USD/CHF held in check by 0.9700 barrier

FXstreet.com (Barcelona) - The USD/CHF has been flirting with stability above the 0.9700 level all day Tuesday, with little luck, despite a brief peak earlier during European trading at 0.9706.

At the time of writing, the pair is operating at 0.9688/89, notching a sterling advance of +0.58% during the US session. The data wires have been extremely thin to start off the week in both Europe and the United States, however at 14:00 GMT the US Consumer Confidence (May) looks to be the marquee release Tuesday, projected at 71.0, against a figure of 68.1 previously.

In terms of the technical levels, the Mataf.net analyst team points to a series of resistances that will stymie any prolonged advance of the USD/CHF at 0.9690, then 0.9719, and ultimately 0.9768. Conversely, any sustained thrust downwards will likely encounter supportive structures at 0.9612, followed by 0.9563, and 0.9534.

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