USD/CHF Pulls Back After Five-Month High: Current Trends to Watch
USD/CHF slides lower following Switzerland’s trade balance data released on Thursday. The pair is trading around 0.8970 during European hours after retreating from a five-month high at 0.9021. This pullback signals a moment of consolidation in the rising trend of USD/CHF, as traders assess the implications of economic data releases. If the trend continues, a break below 0.8950 could be anticipated. Conversely, any strong recovery in economic indicators could reignite bullish momentum. Traders should keep an eye on economic data that may influence upcoming price movements.
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