• USD/CHF plunged to 0.8967 EBS overnight as Wall St tech stocks plunged
• Haven flows were seen into US Treasuries, JPY and even CHF
• With CHF players very short, buy-back plays no doubt played a major part
• USD/CHF spike down in proved brief however, to 0.9030-58 range in Asia
• Fresh news on Trump tariffs no doubt struck a chord, fresh CHF shorts?
• Daily chart shows good bounce from area of ascending 55-DMA at 0.8971
• Retracement up capped ahead of 0.9057-68 hourly Ichimoku cloud
• 0.9044/53 55/100-HMAs pierced to upside in move up, 200-HMA 0.9082 above
• Despite the USD/CHF bounce, overall trend still looks to be down
• Related , , for more click on [FXBUZ]
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(Haruya Ida is a Reuters market analyst. The views expressed are his own)