It's been a good morning for the franc even if not for the SNB 29 Aug
The central bank will be keeping close tabs on the moves today in CHF pairs. Further franc appreciation will be giving them itchy trigger syndrome again but they know they can't halt the flow of market forces, only stall or give it a hand on the reversal.
Not to mention the SNB's P&L going to be taking a further hit this month with both USDCHF and EURCHF in steady retreat from highs and this morning falling from 0.9520 to 0.9428 and 1.1430 to 1.1360
EURCHF has seen previous support around 1.1350-60 so that's the line in the sand nearby for the moment. If it breaks then more bids into 1.1300.
EURCHF
USDCHF currently 0.9443 after finding some demand below/around 0.9430. Previous attempts to go below here since 2015 have failed so definitely a decent line.Perhaps Jordan & Co having a sniff of the rarified but frenzied air as I type?
USDCHF
