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USD/CHF dips to lows near 0.9740 Pablo Piovano

Today’s softer tone in the greenback and the prevailing bias towards the risk-on trade has prompted USD/CHF to retreat to the 0.9740 area, or daily lows.USD/CHF lower ahead of US ISMThe pair is retreating for the third session in a row today after being rejected from the weekly peaks in the mid-0.9800s (Tuesday), where currently sits the key 200-day sma.Ahead in the session, the critical ISM Manufacturing is due in the US economy, seconded by Markit’s manufacturing PMI and the speech by Cleveland Fed’s L.Mester. On the CHF-side, ‘Brexit’ developments remain the exclusive source of potential demand given its condition of safe haven currency.USD/CHF key levelsThe pair is now retreating 0.12% at 0.9747 facing the next support at 0.9672 (20-day sma) ahead of 0.9517 (low Jun.23) and finally 0.9440 (2016 low May 3). On the other hand, a surpass of 0.9839 (high Jun.28) would expose 0.9847 (200-day sma) and finally 0.9960 (high May 30).



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