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USD/CHF dips below 0.8100 after US inflation report
The move comes after the latest US inflation data led traders to trim expectations that the Fed will cut the funds rate this year.
FXStreet said USD/CHF fell 0.7% on Tuesday, trading around 0.8093, after the latest US inflation report shifted expectations for Federal Reserve policy.
The outlet noted that although the pair dipped below 0.8100, the broader uptrend structure of higher highs and higher lows remained intact.
FXStreet added that momentum stays constructive with RSI above the 50 neutral level, and it outlined levels traders were watching. It said a daily close above 0.8100 could open the door to a move toward the day’s high at 0.8152.
On the downside, FXStreet pointed to support at the low of the day near 0.8060, with a break potentially exposing the July 10 swing low at 0.8030, followed by the July 2 daily low around 0.8010.