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USDCHF holds support between 0.81079 and 0.81195

USDCHF traded between a session low of 0.8114 and a session high of 0.8133, keeping the pair bid while it stays above nearby 100- and 200-hour moving averages.

Reported · Written up by our desk · Major Pairs

Forexlive reports that USDCHF is consolidating in choppy conditions, but it is holding support in a defined swing zone between 0.81079 and 0.81195.

The session low was 0.8114, comfortably inside that support area, while the session high reached 0.8133, stopping just short of the next resistance level at 0.81392, set by the June 24 swing high.

The outlet notes that on Monday the pair broke above near-converged 100- and 200-hour moving averages and has remained above them since, with those averages rising to 0.8095 to 0.8097.

According to Forexlive, buyers need to extend above 0.8133 and then clear 0.81392 to open the door to a move toward the July 14 high at 0.81509, followed by a resistance zone between 0.81706 and 0.82148 that also aligns with a 38.2% retracement near 0.82116.

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