The cuckoos are relaxing slightly in Switzerland as EUR/CHF takes a run up to the highest levels for a week at 1.2178. The SNB has moved to DEFCON 3 from DEFCON 2 and a move above 1.22 will see the Swiss national guard returned to barracks, though as I write it gets a kick in the pants from the latest Russian news that Adam has highlighted.
EUR/CHF daily chart 18 03 2014
1.2190 is the nearby level to breach before an attack on the broken Feb 2013 support line and early March highs at 1.2215
Swiss guards protecting the SNB peg at all costs
