Earlier I reported the large rise in sight deposits last week and suggested it might have meant some SNB intervention of sorts and the jury would decide
Well it looks like it made its mind rather quickly and we’ve seen USDCHFand EURCHF straight-line higher to 0.8879 and 0.9973 with the latter getting a tail-wind from the general euro demand
CHF pairs are still understandably volatile but providing opportunity. Sadly didn’t get low enough for me to buy at my target levels from 0.9700
Offers between 0.8885-0.8900 and 0.9980-1.0000 should cap for the moment after such a rapid move
