EUR/CHF has staged a sharp recovery from its March lows near 0.8980, but it is doing so inside one of the longest downtrends in history and with intervention risks to boot. This week, a live Iran deadline, top-tier US inflation data, and the SNB's open threat to intervene in FX markets all converge. The question is whether this recovery has real momentum or if it's simply bouncing toward a ceiling it cannot break.