Swissie staged a massive pullback yesterday, worth about 135 pips with a daily range of 170 pips. Position squaring at quarter-end and before FOMC meeting and U.S. election were all cited as factors for the risk-off move.

The pair broke and closed below 50, 100 and 200 DMA and stalled ahead of 0.9725. It made a marginal new low overnight before a weak rally. 0.9750 - 0.98 looks like a good sell zone. 0.97 is the initial support.

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