USD/CHF: Stops Popped As Bears Bail Out

Having been focused on the stops located between 1.2210-20 for the past three days; the greenback has finally picked up enough oomph to trigger them, hitting a 1.2221 high. Tepid follow through has the bulls second guessing themselves, and lord knows no one feels comfortable being long USD/CHF above 1.2200, so the pair is hovering around 1.2215 as the market tries to make its mind up whether this is just a dollar pop, or whether a trend change is in the offing.