Despite a modest uptick in risk aversion today due to fear of contagion spreading throughout the Eurozone, the USD/CHF holds still to the bottomside of 0.8400 finding firm support so far at the 0.8360 mark. Today´s calm comes after a 160 plummet on Friday following the widely disappointing US NFP results.
In the case that the current risk-off sentient catches up to the USD/CHF, expect immediate support at 0.8304 (21-Day Lower Bolli), 0.8276 (Historic Low Jun 28) and 0.8264 (1.2100 on the Recip). Above, resistance is placed at 0.8402 (10-Day MA), 0.8415 (21-Day MA) and 0.8523 (Daily High Jul 8).
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