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Forex: USD/CHF rises above 0.9400

FXstreet.com (Córdoba) - The dollar rallied during the European session and rose to an over 2-week high above 0.9400 versus the franc, as the Swissy weakened given its strong correlation with the euro.

USD/CHF climbed over 80 pips from lows and pierced the 0.9400 mark to hit its highest since Apr 5 at 0.9412. At time of writing, the cross is trading around 0.9400/05, where it records a 0.6% gain on the day.

In terms of technical levels, if USD/CHF manages to extend gains above 0.9412, next resistances are seen at 0.9429 (61.8% retracement of 0.9567/0.9200) and 0.9496/0.9500 (Apr 6 high/psychological level). On the other hand, supports on dips could be faced at 0.9315 (10-day SMA), 0.9300 (psychological level) and 0.9275 (Apr 19 low).

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