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Forex: USD/CHF consolidates below 0.9600

FXstreet.com (Córdoba) - The US dollar continues to consolidate gains versus the franc after its recent rally paused when reaching a high of 0.9626 last Friday. Being unable to hold above 0.9600, USD/CHF pulled back but found support at 0.9545 and was confined to a sideways phase.

The pair has spent most of the day within 0.9545/0.9595 and it is currently trading near the top of the range at 0.9580, where it is virtually unchanged since opening.

In terms of technical levels, immediate supports could be found at 0.9545 (daily low), 0.9500 (psychological level) and 0.9475 (low May 10). On the other hand, above 0.9495 (daily high) next resistances ate seen at 0.9625 (high May 10) and 0.9660 (high Aug 22).

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