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USD/CHF off highs, back to 0.9770

FXStreet (Edinburgh) - The greenback is now giving away part of its initial gains vs. the Swiss franc on Wednesday, driving USD/CHF to the 0.9770 after hitting tops near 0.9790.

USD/CHF firmer, in multi-day peaks

The pair continues to edge higher today, advancing for the third consecutive session and on its way to challenge multi-week highs around 0.9820 recorded in early September, all bolstered by a re-emergence of the greenback vs. its G10 peers.

In the data space, the SNB Quarterly Bulletin has stressed that still remains risks of deflationary pressures in the Alpine economy, while it has reiterated that a strong CHF threatens price stability. On the USD-side, Lockhart’s speech and Markit’s manufacturing PMI are due later.

USD/CHF levels to consider

At the moment the pair is gaining 0.09% at 0.9761 facing the next hurdle at 0.9786 (high Sep.23) followed by 0.9823 (high Sep.9) and finally 0.9903 (high Aug.9). On the other hand, a breach of 0.9736 (low Sep.23) would open the door to 0.9705 (low Sep.22) and then 0.9642 (low Sep.21).

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