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   “¢   The pair met with some aggressive supply on Wednesday and extended its recent pullback from 28-month tops set last Friday amid the prevalent US Dollar selling bias.

   “¢   A sustained break below 200-hour SMA – for the first time since early April, was seen as a key trigger for bearish traders and behind the pair’s sharp intraday downfall.

   “¢   However, oscillators on the 1-hourly chart drifted into the oversold territory and helped find some support near 23.6% Fibo. level of the 0.9895-1.0236 recent upsurge.

   “¢   Meanwhile, mixed technical indicators on 4-hourly/daily charts have failed to support any firm directional bias and warrant some caution before placing any aggressive bets.

USD/CHF 1-hourly chart