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Axel Rudolph, analyst at Commerzbank, notes that this morning USD/CHF pair has rallied to 1.0100 before swiftly coming off, thus forming a top.

Key Quotes

“1.0100 is the last defence for the 1.0128 November high. A slide back towards the 200 day ma at .9908 is now on hand as long as 1.0100 caps.”

“Initial support is the top of the cloud at .9959. The November 2018 high at 1.0128 is the break point for the 1.0343 December 2016 peak.”