EUR/CHF has been getting support on a number of fronts today. Most prominent were comments earlier today by SNB vice president Hildebrand that the SNB will use all available means to keep the CHF from strengthening.
Also undermining the CHF was a fresh focus on tax-havens at the G20 meeting today. The issue played a bigger role than expected and Obama is rumored to have brokered a deal. As well, the US government bought a tax evasion case against a client of UBS today who held several million dollars in a Swiss account and did not pay taxes on them.
The general decline in risk aversion is a minus for Swissy as well. Large global rallies in shares today and commodities are seeing money move out of safe-havens and back into potentially higher-yielding, riskier assets.
EUR/CHF trades near session highs, now at 1.5280, up more than a centime from the lows for the cross seen during Asian trade. 1.5300/05 is solid resistance on rebounds near-term.