Big hedge funds still covering risk aversion trades

It looks like some of the bigger hedge funds had large short positions in pairs like EUR/CHF and AUD/CHF, and these shorts are still being covered, partially at least. Not all of these are being covered in the money, as I’ve heard that some of the AUD/CHF shorts were initiated 1000 pips lower so that’s bound to hurt. Staying on AUD/CHF, there is a previous weekly low at .8710 which the market is again challenging and a clean break above there could see this pair rise another 5 or 6%.