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Forex pairs in this Article » USD/CHF
FXstreet.com (Barcelona) - The USD/CHF earlier rose to a fresh 2-week high of 0.8526, however since the opening of the North American session the pair has failed to hold onto the upside momentum and has thus dropped under 0.8500 once again. Seemingly finding firm support at 0.8485, the pair looks to be forming a base in an effort consolidate above the technical barrier.

Giving a more in-depth technical analysis, Valeria Bednarik of FXstreet.com suggests: "due to strong risk aversion, the pair is now giving up gains: hourly chart shows RSI in overbought territory, while the 4 hours chart is showing indicators exhausted, and current candle forming a reversal pattern. Lose of 0.8440 support, may trigger a strong selloff in the pair and also the return of the long term bearish trend."
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