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USD/CHF eases-off 2-week highs, stays above 0.97

FXStreet (Mumbai) - The USD/CHF pair took a breather and eased off fresh two-week highs, as the USD bulls consolidate the huge rally seen yesterday.

USD/CHF trades above daily pivot

Currently, the USD/CHF pair loses -0.13% to trade at 0.9719, having faced rejection near 0.9750 levels. The USD/CHF pair corrected lower this session, bringing a pause to six consecutive sessions of gains as the US dollar remains broadly lower after the recent strength backed by ECB-induced EUR/USD sell-off. The USD index falls -0.09% to 96.35 levels.

However, the prevalent risk-on sentiment fuelled by ECB’s additional liquidity indications in Dec, limits the downside in USD/CHF.

Meanwhile, nothing relevant in terms of economic news is likely to be reported in the day ahead and hence, the major will track the broader market sentiment.

USD/CHF Technical Levels

To the upside, the next resistance is located 0.9739/46 (Oct 21 High + Today’s) levels and above which it could extend gains to 0.9800 (Round number). To the downside, immediate support might be located at 0.9680 (50-DMA) and below that at 0.9642 (100-DMA).

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