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One-month risk reversal of USD/CHF, a gauge of calls to puts, rose the most in May by the end of Friday’s trading, per the latest data from Reuters.

This goes against the USD/CHF rebound from the monthly low, up 0.14% intraday near 0.9025 by the press time of early Monday.

Risk reversals flashed +0.025 figure for Friday, suggesting the buyers are gradually firming up controls and/or a short-covering move is building.

Technically, USD/CHF remains pressured unless crossing a confluence of 100-day and 200-day SMA around 0.9080-85. Meanwhile, 0.8990 holds the key to the fresh downside.

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