Greenback reached a fresh daily high at 0.8199 against the Swiss Franc but lost strength and pulled back toward 0.8150. Despite retreating, USD/CHF is holding far all time lows recorded during Asian morning when it bottomed at 0.8083.
“Corrective action on extremely overextended hourly studies is seen preceding fresh weakness, with 0.8000, then 0.7900 levels in focus, as wider picture outlook remains firmly bearish,” said Slobodan Drvenica, analyst at Windsor Brokers Ltd.
On a weekly basis the pair is headed toward the second decline in a row and to the biggest weekly loss since late May.
The Swiss Franc also strengthened versus the Pound and the Euro in the last hours and trimmed losses. EUR/CHF pulled back below 1.1600 while GBP/CHF was rejected from levels on top of 1.3200.
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