The Russian central bank has just announced that it is widening the range of the Rouble basket to 9 Roubles, from 7.

No reaction from the EUR/CHF market thus far but with regional tensions staying very fraught, the CHF is likely to stay well bid. The market will tend towards big levels, and there is none bigger than the SNB-defended 1.2000.

Buying any decent dips looking for a quick 30/50 pip scalp is certainly one potential strategy from these levels but the overall trend remains bearish for EUR/CHF.