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USD/CHF: Swissy takes a breather, back above 0.96

FXStreet (Mumbai) - The USD/CHF pair is trading above 0.96 levels today, after having dipped more than 100-pips in the previous session.

CHF strengthened on dovish Fed and risk aversion

The safe haven Swiss Franc was already on the rise heading into the FOMC and extended gains further after the central bank held interest rates unchanged. The ensuing moderate risk aversion in the markets further added to the bid tone on the CHF.

At the moment, the spot is trading moderately higher around 0.9615 levels. Heading into the event, the focus is likely to be on the sentiment in the stock markets.

USD/CHF Technical Levels

The immediate support is located at 0.9590 (previous day’s low), under which the spot could target 0.9535 (200-DMA). On the other side, resistance is located at 0.9660 (50-DMA) and 0.97 levels.

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