Forex: USD/CHF steadies below 0.9150
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USD/CHF
FXstreet.com (Córdoba) - The dollar weakened versus major competitors on Thursday, with the main exception of the yen, as the risk-on mood weighed on the safe-haven. Against the franc, the dollar lost over 120 pips throughout the day and slid toward its lowest in 8 days before finding support.
At time of writing, USDCHF is trading at the 0.9140 area, 1.2% below its opening price, having hit a low of 0.9132 during the American afternoon.
From a technical view, "With fresh weakness retracing 61.8% of 0.9080/0.9300 rally at 0.9160, more risk is now seen towards the downside, as strong supports at 0.9100 and 0.9080 base are coming in near-term focus", said Slobodan Drvenica, analyst at Windsor Brokers Ltd. "Previous supports at 0.9200/0.9230 now revert to resistance and being reinforced by 55/20 day EMA's respectively".
At time of writing, USDCHF is trading at the 0.9140 area, 1.2% below its opening price, having hit a low of 0.9132 during the American afternoon.
From a technical view, "With fresh weakness retracing 61.8% of 0.9080/0.9300 rally at 0.9160, more risk is now seen towards the downside, as strong supports at 0.9100 and 0.9080 base are coming in near-term focus", said Slobodan Drvenica, analyst at Windsor Brokers Ltd. "Previous supports at 0.9200/0.9230 now revert to resistance and being reinforced by 55/20 day EMA's respectively".
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