USDCHF has not closed above this level since exactly 2 years ago. USDCHF has a strong correlation with EURUSD. If we have a strong close above this, I will be looking for longs to target 1.0200-1.0300. A rejection would execute shorts. This could correlate with EURUSD targeting a new leg to the downside. Both will need to be monitored. Market sentiment for EURUSD is currently mixed, with majority of traders net long.