EUR/CHF - Rumors of FX Intervention
EUR/CHF is digesting the recent massive selloff. Todays move halts succession of lower highs suggests increasing selling pressures. However, bullish move to 1.0385 has already reversed. A key support stands at 0.9715.
The EUR/CHF is again a free-floating currency and has declined to uncharted water. The ECB's QE programme is likely to cause persistent selling pressures on EUR/CHF. Monitor the key support stands at 0.9715. The 15 January low at 0.8517 is a strong support, which should hold in the coming months.