EUR/CHF continues to trade somewhat heavily, presently at 1.5150. The need to buy swissy for MSCI month-end rebalancing purposes is weighing on the cross today.
As we thought there have been rumours circluating today regarding covert SNB intervention, which did help lift the cross to a 1.5194 high at one juncture.
Sources now report decent buy interest in the cross lying down at 1.5125/30, which funnily enough is the first technical support level of note. Below that we have 1.5100 and then 1.5080/85, while resistances are seen at 1.5215/20 and 1.5240.
LATE NEWS FLASH: Just been told by market source sell-stops are gathering at 1.5120, which makes perfect sense I guess.
