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Forex: USD/CHF declines to 10-week lows at 0.9305

FXstreet.com (San Francisco) - After falling around 50 pips from 0.9355 in the latest couple of hours, the USD/CHF has broken down the 0.9315 and it has reached fresh lowest level since February 28 at 0.9305. Currently the pair is trading at 0.9315.

The USD/JPY is trading slightly bearish according to the FXstreet.com trend index. Indicators such as MACD, CCI and Momentum are pointing bearish while the Stochastic is neutral in the 1-hour chart.

Below 0.9305 area, next supports are at 0.9290 (50% fib retracement from the Feb 28 to March 14 advance) and the the Feb 28 low at 0.9280. On the upside, resistances are at 0.9320, 0.9350/60 area and 0.9380.

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