• Unwind of risk off hedges puts pressure back on safe-havens

• EUR/CHF hold of key pivot is encouraging for bulls

• Aside from rising geopolitical tensions. CHF gains are likely to be shallow

• Keep in mind, CHF is the preferred funding currency given dovish SNB outlook

• As such, bias remains to fade upside in CHF

• Key support resides at 0.9690. Resistance at 0.9800

• Looking ahead, ECB Chief Economist Lane speaks at 1300GMT

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