ZKB says USD/CHF on the defensive after the failure at 0.9460 and it will need to break above 0.9415 if it is to retest the former resistance level. "However, a test of downside support at 0.9360 is the more likely scenario, and if this is breached, then it could expose the levels of 0.9290 and 0.9210," say technical analysts at Zuercher Kantonalbank. USD/CHF last at 0.9376.
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