The EUR/USD bounce has again added a little bite to the USD/CHF pullback and spot has just nudged back below 1.2500. However, with offers into 1.30 rebuffing the rebound the failure to hold the 1.25's may not last too long.
Should EUR/USD break back into the 1.30's then a sustained failure will be looked for. Against the Euro the Franc is still under the kosh with EUR/CHF eyeing the all-time high at 1.6261. Offers from 1.6240 back to 1.6250 cap initial strength while above option barriers at 1.6300 will now be eyed should fresh historic levels be probed.
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