Last time we were above 1.2600 (earlier this morning) I got reports (somewhat belatedly) that the Dutch AAA bank had been a notable seller.
I’m just getting reports that they’re selling again in recent trade. We’re presently at 1.2608.
As you’ll all know by now, the bank in question is actively supporting EUR/CHF on behalf of the SNB. So this ongoing EUR/USD selling is being seen as rebalancing out of the EUR/CHF purchases.
Sell orders remain clustered 1.2630/50, buy stops just above there.
