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Forex pairs in this Article » USD/CHF (New York) - The USD/CHF technical pair bounced off an intraday low of 0.9411 Friday, only to recover higher in recent moments, paring its recent losses.

USD/CHF stabilizes after brush with support

In light of the recent recovery movement, the USD/CHF foreign exchange rate is now operating in negative territory at 0.9437 Friday, incurring a loss of -0.19% at the time of writing. Consistent with the calculations of the analyst team, pair will face supportive means at 0.9412 (session low) then 0.9368, and eventually 0.9333.

USD/CHF downside pressure alleviated?

According to the Dukascopy Bank Team, “The USD/CHF’s rally higher has surpassed the 55-day MA at 0.9439. The Elliott wave count is suggesting that this will reach.9535 prior to failure. Rallies will need to regain 0.9568 (March high and 61.8% Fibonacci retracement) to alleviate immediate downside pressure and this is now looking more likely.”
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