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USD/CHF directionless above 0.9600

FXStreet (Edinburgh) - The greenback is trading almost unchanged vs. the Swiss franc at the beginning of the week, taking USD/CHF to the low-0.9600s so far.

USD/CHF attention to risk trends

The inactivity in US markets today will leave the pair to the mercy of the risk appetite trends, all against the backdrop of a generalized softer tone surrounding the dollar as market participants continue to push back expectations of a Fed’s lift-off.

In the meantime, a December’s rate hike by the Fed continues to lose traction in favour of January or March 2016, mainly after the unexpected dovish tone from the FOMC minutes seen last week.

USD/CHF levels to consider

At the moment the pair is gaining 0.01% at 0.9617 and a break above 0.9688 (55-day sma) would open the door to 0.9843 (monthly high Sep.23) and finally 0.9903 (high Aug.11). On the other hand, the initial support aligns at 0.9573 (200-day sma) ahead of 0.9527 (low Sep.18) and then 0.9500 (psychological level).

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