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25 Jun 2013
USD/CHF fails to hold above 0.9400
FXstreet.com (Córdoba) - The ">USD/CHF lost momentum after printing a 2-week high above 0.9400, and retraced some of its gains during the American afternoon.
USD/CHF retreats from highs
The USD/CHF was underpinned by solid US data and pierced above the 100-day SMA to reach its highest since Jun 10 at 0.9407. However, the pair lacked strength to hold above the 0.9400 psychological level and retreated slightly.
At time of writing, USD/CHF is trading at the 0.9380 area, where it records a 0.6% daily gain. On the upside, the pair could face resistance levels at 0.9420 (Jun 10 high) and 0.9440 (Jun 6 high), while on the downside supports are seen at the 0.9315/20 area (daily lows/100-hour SMA) and 0.9300 (psychological level).
USD/CHF retreats from highs
The USD/CHF was underpinned by solid US data and pierced above the 100-day SMA to reach its highest since Jun 10 at 0.9407. However, the pair lacked strength to hold above the 0.9400 psychological level and retreated slightly.
At time of writing, USD/CHF is trading at the 0.9380 area, where it records a 0.6% daily gain. On the upside, the pair could face resistance levels at 0.9420 (Jun 10 high) and 0.9440 (Jun 6 high), while on the downside supports are seen at the 0.9315/20 area (daily lows/100-hour SMA) and 0.9300 (psychological level).