EUR/CHF is powering to new highs at 1.2464. The long held safe haven money may start to shift if we see further dollar strength. I’ve written previously about the unwinding of the flows and we could be seeing further signs here.
At the moment we’re into an area of previous highs at 1.2455/65 with the all time high from the peg at around 1.2570.
We’re still some way off the first big tech level which is the 38.2 fib from the Oct 2007/Aug 2011 hi/lo at 1.2645 but in the current market we may possibly have a crack at it in the not too distant future.
As I listed in my dollar post this may also be the reason we are seeing AUD/USD continue to fall as “safe” money get’s pulled out into riskier assets.
