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Forex

USD/CHF Bounces Off Weekly Lows Amid Intervention Rumors

Guavy AI Editorial Team
Instruments
USD JPY CHF
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The USD/CHF currency pair has bounced off its weekly lows and is currently trading around 0.8080, after hitting a daily high of 0.8127.

This rebound comes amid reports that the US Treasury Department has told market participants to prepare for additional intervention, following Thursday's action by Japanese authorities to boost the Yen.

The uptrend in the USD/CHF is expected to continue as long as spot prices remain above the 50-day SMA and the July 10 cycle low of 0.8010.

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