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Forex pairs in this Article » USD/CHF (Barcelona) - The USD/CHF has dropped a fresh 40 pips in the opening moments of the North American session, as the greenback comes under substantial selling pressure despite the overall risk averse environment surrounding the marketplace. The had prior traded consolidated to the upside of 0.8460, however was unable to maintain that level and currently tests the next support level at 0.8420.

Giving a more in-depth technical analysis, Slobodan Drvenica of Windsor Brokers writes: "Continues to lose traction as the recent recovery from 0.8325 record low, stalled on test of initial barrier at 0.8550. Downside loss of 0.8466/40 support zone, increases risk of lower top at 0.8550 and extension of broader downtrend. Loss of 0.8420/00 support is needed to confirm and open way for retest of 0.8345/25 lows."

Drvenica goes on to list further critical levels underneath at 0.8400, 0.8345 and 0.8325. Above, resistance is placed at 0.8475, 0.8514 and 0.8550.
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