I’ve been touting a well-defined range for EUR/CHF of 1.5000-1.5200 and opining that it might be a good idea to trade that range. Now I’m not so sure, at all.
The cross presently trades up at 1.5175 from an opening in Europe around 1.5160, and has been as high as 1.5198.
One thing has me spooked. Somewhat belatedly I’m hearing the BIS was seen in buying the cross yesterday. Don’t unfortunately have levels but it’s the one thing that worried me about trading the aforementioned parameters, basically the SNB following up their interest of last Friday. Sounds as though that’s exactly what they might be doing.
As a result wouldn’t be surprised to see a move above 1.5200 in the not too distant future.
