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      USD/CHF looking for parity?

      FXStreet (Córdoba) - USD/CHF is posting modest gains on Tuesday, on a day were equities dropped sharply in Europe and in Wall Street. The US dollar and the yen were the best performers while the Swiss franc outperform among European currencies.

      USD/CHF testing 0.9755

      The pair started to rise last Friday after bottoming at 0.9520 and since then climbed more than 200 pips. The rally of the USD/CHF was capped today below the 0.9750/60 resistance area. A break higher could open the doors for more gains and would expose 0.9800.

      Price action if forming a head and shoulders pattern in 4-hour charts, that could signal a change in the trend USD/CHF had been experiencing since early August. It the formation materializes the key dynamic resistance to watch will be a downtrend line that links 2015 highs, with March and August highs that currently stands at around 0.9850.

      A break of the mentioned trend line could open the doors for more gains in the medium term, including the possibility of rising again above the parity level.

      EUR/USD: oversold, but not overdone - FXStreet

      Valeria Bednarik, chief analyst at FXStreet explained that falling commodities prices and plummeting stocks sent investors in a run towards safety, making of the American dollar the overall winner of the day.
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      USD/JPY: bears look for a US session close below 120

      USD/JPY is currently trading at 120.02 with a high of 120.59 and a low of 119.68.
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