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FxWirePro: USDCHF trades lower on weaker than expected US retail sales, good to sell on rallies 

USDCHF is trading slightly weak in US session after weaker than expected US retail sales data. It has declined for the first time in 7 years and came at -0.3% vs forecast of 0.3%, the biggest drop since Feb 2019. US 10-year is holding steady despite weak US economic data. It is currently trading at around 1.744%. The spread between US 10-year and US 2-year has widened to 16 bps. 

On the higher side, any minor trend continuation if it breaks 1.0030, any violation targets 1.0060/1.0100. Major bullishness only above 1.0125. The near term major resistance is around 0.99525/0.9980.

The near term support is around 0.9940 and any break below will drag till 0.9900/0.9840/0.9770.

It is good to sell on rallies around 0.9978-80 with SL around 1.0030 for the TP of 0.9900.

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