• EUR/CHF rose 0.8981-0.9266 when FX reserve grew CHF 11 bln

• Reserves since falling CHF 5 bln and EUR/CHF down to 0.9146

• EUR/CHF has broken back below the 55-DMA at 0.9152

• The 21-DMA 0.9197 set to fall below 100-DMA 0.9190 - sell signal

• Boom for stocks may lessen demand for safe havens like CHF

• Less need for intervention may see EUR/CHF to fall further

• Market euphoria meets FX apathy; quiet spell may break soon

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EURCHF


(Jeremy Boulton is a Reuters market analyst. The views expressed are his own)