Since topping out above 1.02, USD/CHF has remained well bid. The pullback is currently just over 150 pips. The pair has also been supported via EUR/CHF, which rallied from below 1.07 and is now trading firmly above 1.08.

There are some strong technical levels near the parity level, including October high and 2015 - 2016 trendline with 50 DMA closing in from below. Another leg higher would target year's high at 1.0255 and cycle-high at 1.0330.

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