Yesterday's bout of risk-off in markets didn't impact USD/CHF as much as USD/JPY. The former continues to move in tandem with EUR/USD, especially since U.S. dollar weakness has been driving most pairs recently.

USD/CHF broke the six-month consolidation to the downside and fell below 2011 - 2016 trendline in the process. No sign of SNB as yet but EUR/CHF is well off the floor anyway. Area near 0.95 looks like a strong support with 0.97 the initial resistance.

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