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USD/CHF struggles around 0.9600

FXstreet.com (Córdoba) - The dollar managed to erase intraday losses against the franc, and having bounced from a 3-week low of 0.9510, it rallied toward the 0.9620 zone during the NY session, propelled by upbeat US data.

However, the pair lost momentum after hitting a high of 0.9624 and retreated back below the 0.9600 mark to currently trade around 0.9590, where it is still 0.7% up on the day. Even though USD/CHF is ending the week lower for second time in a row, it is closing May with a 3.2% gain.

In terms of technical levels, immediate resistances are seen at 0.9624 (daily high) and 0.9660 (200-hour SMA), while supports could be found at 0.9550 (20-hour SMA) and 0.9510 (daily low).

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