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USD/CHF hesitated to go higher on USD rumors

FXStreet (Moscow) - USD/CHF retreats from 0.9077 session high, reaching 0.9066 low by the moment.

Inflation may put it into motion

The pair rebounded from 3-week low yesterday, but the further move up is still problematic on the back of empty economic calendar. There were some rumors in the morning that Janet Yellen will talk about US economy slack at Jackson Hole, and it pressure the USD a bit. The scheduled for release US inflation data may put the pair into motion, as there is some possibility the consumer price index crosses the 2% Fed inflation target . If so, the market may start to price in the possibility of earlier than expected rate hike, sending the pair to the nearest resistance level at 9082.

What are today’s key USD/CHF levels?

Today's central pivot point can be found at 0.9053 with support below at 0.9036, 0.9007 and 0.8990, with resistance above at 0.9082, 0.9099, and 0.9128. Hourly Moving Averages are mixed, with the 200SMA flat at 0.9068 and the daily 20EMA flat at 0.9048. Hourly RSI is bullish at 67.

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European stocks advanced Tuesday, building up on yesterday’s gains, while US futures also rose as global geopolitical concerns continued to ease.
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