After trading to as low as 0.96 in the beginning of May, USD/CHF has been slowly but steadily recouping losses. At the last week's meeting, SNB reiterated their mantras that the Franc is overvalued and that they will continue with ultra-easy monetary policy.

That shall keep the pair supported as long as EUR/USD is in correction mode. 0.98 - 0.9825 (March low, 2011 - 2016 trendline, 50 DMA) is the next target. 0.97 - 0.9725 is likely to see some stronger demand come in.

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