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USD/CHF fails to sustain daily gains

FXStreet (Córdoba) - USD/CHF made another attempt to break above the 1.0085/90 area during the European session, but was rejected once again and pulled back to the flat line, with the latest round of US data having virtually no effect on the greenback.

US initial jobless claims came in at 276K in the week ended Nov 6, slightly above the 270K expected by analysts. However, USD/CHF continued to steadily trade around 1.0040.

USD/CHF rose to a daily peak of 1.0084, but stalled a few pips shy its March high of 1.0089, and erased intraday gains over the last hours.

USD/CHF technical levels

On the upside, immediate resistances are seen at 1.0089 (Mar 12 high), 1.0126 (Mar 12 high) and then 1.0239, which is the 2015 high scored on Jan 14 pre-SNB shocker. On the downside, supports could be found at 0.9997 (Nov 9 low), 0.9943/41 (Nov 6 low/23.6% Fibo of 0.9475-1.0085) and 0.9920 (Nov 5 low).

US initial jobless claims steadied at 276K last week

The first time application for the unemployment benefits in the US last week stayed unchanged, but well below the 300 mark indicating a sustained improvement in the labor market.
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