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USD/CHF bounces from 0.9600

FXstreet.com (Córdoba) - Following a sharp selloff, USD/CHF finally found support at a low of 0.9598 and bounced, trimming losses during the last hours.

As bears failed to decisively break below the 0.9600 level after 2 attempts during the New York session, USD/CHF managed to recover ground, climbing back to the 0.9650 area in recent dealings. At time of writing, the pair is trading at 0.9640, still down 1.3% on the day.

As for technical levels, if USD/CHF regains the 0.9650 area, next resistances are seen at 0.9700 (psychological level and 20-hour SMA) ahead of 0.9790 (daily high). On the other hand, immediate supports are seen at the 0.9600/0.9590 area (psychological level/ lows May 29 & 24) and 0.9565 (21-day SMA).

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