USDCHF: SHORT [D] [10/07]

USDCHF | Strong CHF | 1.0020 – 0.9650
- Geopolitical risks are elevated and has pushed funds into CHF, which may cause the SNB to intervene if it appreciates too rapidly.
- Further rate cuts by the SNB may be needed and the SNB may even expand its balance sheet if necessary. Should Italy fears re-escalate, the SNB will remain “active in the FX market as necessary.”
- Key SELL area 1.0030/0.9980