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USDCHF test resistance and highest since 12/04

CHF

USDCHF has now gained 3.84% from the June low (printed on the 09/06), and we are testing the 61.8% retrace of the April/June fall at 0.9264.

  • Continued risk on, has kept the lid on safe haven FX (JPY, CHF).Further upside momentum opens to the figure at 0.9300 initially.
  • Above the latter, would see 0.9325 and 0.9344.

Chart source: Bloomberg

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