EUR/CHF falls through 1.22 as the IMF jump back into the EU deflation ring

EUR/CHF has broken through 1.22 and nudged through the Feb 2013 support line at 1.2194

EUR/CHF daily chart

If we hold below here then the Jan lows at 1.2183 could well come into play followed by the Dec low at 1.2165. If that goes the we could be heading down to the Apr 2013 lows at 1.2127.

I’ve seen no headlines for the move but the IMF banging the European deflation drum may be assisting the mover lower.

USD/CHF is also looking poorly and is in danger of paying a visit to the Dec lows at 0.88 and the year support line at 0.8764.

USD/CHF daily chart

Update: After seeing Adam’s Ukraine headline above that’s adding more to the mix than just the IMF.