USDCHF failing to rally but holding 0.9440-50 still 26 March
There's been a line in the sand for over a week now into 0.9440 and I'm offering no prizes for guessing who might be propping up the pair. EURCHF therefore has support into 1.1680 and 1.1650 but with current euro demand prevailing anyway now has immediate demand around 1.1700.
Remarkably the SNB this morning got the official nod of approval this morning from the IMF for its continued intervention in FX markets. So the IMF sanction ccy manipulation where the G7/G20 profess not to. Well, outside of locked doors of course.
Anyhow buying these dips on USDCHF continues to be the gift that keeps on giving in much the same way that USDJPY has into 104.50 but similarly both pairs finding good rally-supply too.
Jobbers delight still for the moment. Just don't look for much bigger moves anytime soon.
USDCHF
EURCHF
