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Swiss franc crosses rebound after early declines

USD/CHF and EUR/CHF at the highs of he day in quick turnaround

You have to look to the Swiss National Bank after today's reversal in EUR/CHF. The pair traded down below 1.08 and continues to slide to 1.0760 in US trading but in the past few hours it has snapped back to 1.0840 and is testing Friday's high.

Greg also highlighted important support in USD/CHF at 0.9792. The low was 0.9786 and it has snapped back up to 0.9841.

It might be a bit premature to blame the SNB because the stock and oil markets have carved out turnarounds on a similar timeline.

Keep an eye on EUR/CHF as it tests that high and tries to escape from a recent downtrend.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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