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Forex pairs in this Article » USD/CHF (London) - USD/CHF has been capped at 0.9320 and has breached 0.9300 to continue for yesterdays low 0.9270.

USD/CHF has been on a losing streak since plays above 0.9400 the figure and last weeks highs. The dollar has been offered around speculation of a more dovish FOMC this time around and will remain sensitive to data flows preceding the August meeting tomorrow. The pair is awaiting US consumer confidence numbers (Jul) expected to read 81.5. We have seen some minor releases in the Redbook index printing slightly below previous. Tomorrow we will see the ADP employment change, GDP numbers for Q2, PCE and also FOMC. So there could well be some positioning leading up to tomorrow in NA and overnight.

USD/CHF levels

The bias is to the downside with linier regression indicators in the red. The 20d ma 0.9449, 50d ma 0.9434, 200d ma 0.9360, RSI (9) 38.04, Support 0.9176, 0.9242, and finally yesterdays low 0.9270 and 0.9263, the 78.6% correction. Spot at time of writing is 0.9275. Resistances are 0.9338, 0.9365, 0.9395, 0.9408. The trading range is expected for the NA and Asian markets coming up is between key support at 0.9200 and key resistance at 0.9385.
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