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USDCHF trades in tight range between 0.8290 and 0.8348

The pair has stayed confined to a 58-pip range for six trading days, with support near 0.8291 and resistance near 0.8348 repeatedly tested.

Reported · Written up by our desk · Major Pairs

USDCHF has been moving back and forth between support and resistance for the past six trading days, confined to a range between 0.8290 and 0.8348, according to Forexlive. The move has been limited to about 58 pips, with neither buyers nor sellers able to sustain a breakout.

Forexlive said yesterday’s session tested both extremes, with support holding around 0.8291 while resistance near 0.8348 capped the rally into the close.

Today, the outlet noted that the low reached 0.8313, briefly dipping below the 100- and 200-hour moving averages before rebounding. With the moving averages acting as the near-term gauge, Forexlive said a hold above both could allow a push back toward the 0.8348 ceiling, while a break and hold below both could reopen a test of support near 0.8290.

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