EUR/CHF steady at higher levels

EUR/CHF is steady at higher levels, presently at 1.5190, effectively unchanged on the day.

Talk of BIS sitting on the bid yesterday down at 1.5150/55 has lent the cross some decent support.

There was also talk of SNB or BIS (can’t remember which) with buy interest down around 1.0570-ish in USD/CHF yesterday (thanks for heads up saferanger!!)

Obviously 1.5200 now looms large as the next upside barrier. To be honest I really can’t get too excited about this fledgling rally, when I have the biggest bank in Switzerland and one of the major trading insitutions telling me their 1month and 3month target for the cross is 1.5200. They might be wrong, we’ll see.

As an additional note their 3-month target for EUR/USD is 1.3000. Those with long positions in USD/CHF will be hoping the forecasts are both spot on the money.