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USD/CHF technical analysis: Buck recovering and Swiss franc dumping help market recovering from monthly lows

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  • Investors are dumping the safe-haven Swiss franc as the market mood is improving.  
  • The level to beat for bulls are at 0.9790 and 0.9815 level.

 

USD/CHF daily chart

 
USD/CHF is trading off monthly lows below its main daily simple moving averages (DSMAs). Equity markets are recovering from the selloff seen on Monday as China has re-valued the yuan. Investors are selling the safe-haven Swiss franc and buying the greenback.
 

USD/CHF 4-hour chart

 
USD/CHF is bouncing from monthly lows while trading below its main SMAs. Bulls would be looking to extend the recovery beyond 0.9790 and 0.9815 resistances.
   

USD/CHF 30-minute chart

 
 
USD/CHF is trading above the 50 and 100 SMA, suggesting a pullback up in the near term. Immediate supports are near 0.9770 and 0.9755, according to the Technical Confluences Indicator.  
 

Additional key levels

 

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