Was that Intervention in EUR/CHF?

Date January 29, 2010

There was a sharp move intraday in EUR/CHF that smells like intervention…but was it? SNB member Hildebrand and the Bank of International Settlement has declined to comment on the move in the Swiss Franc. The first chart shows today’s price action in EUR/CHF and the second shows the price action of EUR/CHF when the SNB intervened back in March. The move in March was much bigger - 400 pips compared to today’s 100 pip rally. Therefore I think that the move in EUR/CHF today is most likely NOT related to SNB intervention. Probably a big take profit order to buy back EUR/CHF below 1.4640.

Today’s move in EUR/CHF: 100 pip rally

EUR/CHF chart of March Intervention: 400 pip rally

More on this topic (What's this?)
EUR/CHF At Levels Not Seen Since March (Trade the Picture, 9/14/09)
Asian Session: Markets Watching EURCHF (Oxbury Publishing, 6/18/09)
Asian Session: Markets Watching EURCHF (Jutia Group, 6/18/09)
Read more on EUR/CHF at Wikinvest

Category Posted in Swiss Franc, swiss national bank

One Response to “Was that Intervention in EUR/CHF?”

  1. Was that Intervention in EUR/CHF? - Forex Pay said:

    January 30th, 2010 at 4:46 am

    [...] Original post by Kathy Lien [...]

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