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Forex pairs in this Article » USD/CHF (London) - USD/CHF blasted through the previous downtrend at 0.9000 and has continued through to the closing hours of this week’s session for a low of 0.8924 so far.

On the way down, strategists at Commerzbank said, “…with the 0.8862 38.2% retracement from the 2011 low represent major support, we will again be looking for this to hold the downside”. As a reminder, from the data front, the NFP’s number printed 230k vs a consensus of 180k while the Unemployment Rate printed 7% vs 7.2% consensus. The Michigan consumer sentiment index was also beating expectations at 82.5 vs 76.0 consensus.

USD/CHF Levels

The 20 DMA is 0.9106, the 50 DMA is 0.9071 and the 200 DMA is 0.9308. RSI (14) reads 21.89. Next support is 0.8891. Spot is 0.8924 and resistances are 0.8944, 0.8951, 0.8969, 0.8984, 0.9021, 0.9051 and 0.9077.
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