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USD/CHF retreats but remains above 0.9700

FXStreet (Córdoba) - USD/CHF is falling modestly on Friday, ahead of the NFP report but still remains above 0.9700. Yesterday the pair posted the highest close since May 2013.

After Draghi’s press conference the pair jumped, breaking important short term resistance levels and peaked at 0.9737, new 2014 high. Afterwards the pair retreat modestly and continued to pullback on Friday, moving slowly on a clam trading day so far, as traders wait for US employment numbers. Recently printed a fresh daily low at 0.9704.

USD/CHF with strong weekly gains

To erase weekly gains, price would have to fall below 0.9630. It it does not happen, USD/CHF would post the third gain in a row and the second highest weekly close in two years.

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