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USD/CHF: Options market turn most in six months ahead of Fed

One-month risk reversal of USD/CHF, a gauge of calls to puts, not only snapped a two-day downtrend but also rose the most since January 08, per the latest data from Reuters.

This goes hand-in-hand with the USD/CHF recovery after refreshing the lowest levels in two weeks the previous day.

Risk reversals flashed a +0.600 figure for July 27, suggesting the strong bullish bias among the USD/CHF traders.

It should, however, be noted that the pair’s sustained trading below the 100-DMA, around 0.9160, on a daily closing basis keeps the sellers hopeful. The same direct USD/CHF bears to the monthly low around 0.9120 before highlighting the 200-DMA level of 0.9070 during the further weakness.

Read: USD/CHF Price Analysis: Bears challenge 38.2% Fibonacci retracement

NZD/USD Price Analysis: Bears attack critical support around 0.6950

NZD/USD extends the previous day's losses on Wednesday. The pair moves with bearish sentiment in a very narrow trade band. At the time of writing, NZD
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EUR/USD still seen within the 1.1750-1.1860 range – UOB

In opinion of FX Strategists at UOB Group, EUR/USD is forecast to keep trading between 1.1750 and 1.1860 for the time being. Key Quotes 24-hour view:
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