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USD/CHF eases from weekly highs

FXStreet (Córdoba) - USD/CHF is staging a mild downward correction as the franc strengthened in tandem with the euro following supportive Eurozone data, dragging the pair to fresh daily lows.

USD/CHF climbed to a fresh weekly high of 0.9558 during the European session, but lacked follow-through to break decisively above the 0.9560 resistance area and came under pressure instead, sliding all the way back to 0.9517. At time of writing, USD/CHF is trading at the 0.9525 area, 0.10% below its opening price.

USD/CHF technical levels


In terms of technical levels, if USD/CHF breaks above found at 0.9558/60 (Oct 23 & 15 highs), next resistances are seen at 0.9590 (Oct 10 high) and 0.9600 (Oct 8 high/psychological level). On the other hand, supports are seen at 0.9485 (10-day SMA), 0.9472 (Oct 22 low) and 0.9397/0.9400 (Oct 21 low/psychological level).

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