USD/CHF at 1.6473/78 has rallied back after posting an earlier 1.6432 session low, which came about when aforementioned sell-stops below 1.6450 technical support were triggered. The subsequent rally owes much to the strong rally being seen in the EUR/CHF cross, which has advanced to 1.4655 at writing. Not surprisingly there is a lot of talk of SNB intervention driving the cross move, but at writing the rumours are unconfirmed. Technical resistance for USD/CHF now lies at 1.6490.