An analysis of the big interbank trading platforms from Morgan Stanley is showing very solid offers at 1.2026/27 and decent sized bids at 1.2015/16 (courtesy of the FXWW chatroom on Reuters Messenger).
It looks like we will be in for a long slow battle in the EUR/CHF, especially given reports that the SNB has been selling EUR against other major currencies, immediately balancing their reserves as best they can. This type of intervention always has plenty of ripple effects.