EURCHF -- 1.0404
The currency pair has not closed above the supposed 1.05 intervention level since 18nov21. Instead constant selling pressure is keeping the pair below 1.0450 with supports around 1.0375/70 for now. With the prospect of SNB starting to intervene at anytime soon trading delta one is difficult. A very important support zone can be found around 1.0235 (low of apr2015) and I think it is reasonable to use that level as a pivot point for the SNB. Nevertheless you cannot rely your trading on supposed central bank actions. Therefore I like to advise FX Options again to cushion extreme moves (below 1.00) that could arise suddenly in a market used to low volatility.
USDCHF -- 0.9205
The Dollar is trading at elevated levels (DXY 96.309) but cannot make progress against the swiss Franc. The currency pair is trading quite in the middle of its triangle chart pattern and you could flip a coin to guess the next move. Nevertheless I like the pair lower until end of year. On the one hand the dollar rally seems already stretched. On the other hand the risk sentiment has room to deteriorate. In that case the swiss Franc should profit from its safe-haven status.
Good luck,
Sebbo