JP Morgan likes selling CHF on rallies in the near-term.

"Risk was on the back foot yesterday following Trump comments suggesting the ceasefire was over. This gave the greenback a heavily bid tone in the London session, with USDCHF trading above 0.8100, but the move was short-lived and the pair is now back around 0.8060," JPM notes.

"Our CHF view is unchanged: we're happy to sell the franc on rallies versus the dollar, using it as a hedge against higher-beta longs elsewhere," JPM adds.