- EUR/CHF still moving higher
- Hit a fresh intraday high of 1.0718 earlier
- No news/fundamentals that could have driven the CHF move today
- SNB Chairman Jordan spoke yesterday and said that the central bank is ready to intervene if necessary
- Nothing new and the SNB has lost a lot of credibility after dropping the 1.20 floor a month ago
- However, the break above the technical resistance level of 1.0650 could have sparked fresh buying from leveraged names + possible that SNB is active in the markets
The post EUR/CHF extends gains on the day appeared first on www.forextell.com.