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USD/CHF fails to hold above 0.9600; back to daily lows

FXStreet (San Francisco) - The US dollar was unable to sustain prices above the level of 0.9600 against the Swiss franc after the pair initially reacted positively to the US GDP's headline of 3.5% growth in the Q3.

However, the pair returned to daily lows after investors read the fine print on the fall in consumption and too much government spending.

The USD/CHF fell 55 pips from 0.9610, the highest level since October 7, to test the 0.9550 area. Currently, USD/CHF is trading at 0.9555, up 0.09% on the day, having posted a daily high at 0.9612 and low at 0.9543.

The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish.

USD/CHF levels

If the pair extends drop below the 0.9550, it will find next supports at 0.9540 and 0.9520. To the upside, resistances are at 0.9600, 0.9610 and 0.9620.

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