EUR/CHF coming under pressure after sharp rally
For more than a day , we’ve been rallying sharply in EUR/CHF, mostly on the back of a potential deal between Germany ans Switzerland for German account holders to pay tax on their accounts. The bounce was approximately 2.75 centimes in a little over a day. We’re now seeing a pullback from short-term overbought levels and a fairly clear bearish divergence. Support is not seen until down at the 1.1595/00 near-term.