With EURUSD testing key resistance USDCHF support comes in to play

We have traded below last Decembers low on USDCHF as low as 0.8789 with not much follow through, due to the peg USDCHF is very much the inverse of EURUSD, broad CHF demand has taken EURCHF as low as 1.2144, if this move keeps going all eyes will be on the 1.2129 and then 1.2128.

USDCHF Daily chart