Three weeks ago, we mentioned that many traders were taking a “once bitten, twice shy” attitude toward the Swiss franc after the SNB’s historic decision to drop its cap on the franc in mid-January (See the second article, “Another Cup of Tea for EURCHF Bulls” here). EURCHF has since stalled out, perhaps on fears ahead of tomorrow’s ECB meeting and press conference, but USDCHF has continued to truck along, breaking above the 61.8% Fibonacci retracement of the SNB drop at .9520 on Monday. Tackling the fundamental side of the ledger first, the franc has been pushed lower by rumors that the Swiss National Bank was ... (full story)