USDCHF sellers took the wind out of the buyers sails despite diverging inflation readings ...Middle East

The pair initially broke below its 100-hour moving average near 0.9113, along with a swing area between 0.9108 and 0.9115. After fluctuating around the 200-hour moving average (0.90896), another wave of selling pushed the price toward a support zone between 0.9058 and 0.9062, with the day's low reaching 0.9064. Over the past several hours, USD/CHF has been consolidating in a narrow range between 0.9064 and 0.9084.

Adding to USD weakness is the decline in U.S. yields, reversing yesterday’s rise. The 10-year yield is now down -8.2 bps, trading at 4.552%, further pressuring the dollar.

This article was written by Greg Michalowski at www.forexlive.com.

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