Good bids reported into 1.2050 and down to 1.2040. Unlikely we'll see a breach of that level, especially as risk sentiment is improving and tech suggest more EUR upside likely in the near-term. Long at 1.2064 with a stop at 1.2035 and 1.2125 target.
You can also play zero cost risk reversals on options, as even the 2 months 1,20 puts pay some premium if you sell. That you can use to buy OTM Calls. NBS will likely keep the floor. What can be against the performance of the trade is if we see more USD correction. That would cause USDCHF longs unwinding, putting some selling pressure or kind of cap on EURCHF too. I think if someone believes un an EUR short squeeze, then EURUSD or EURCAD is a better field to go long, while if someone rather believes in USD long exits, then probably GBPUSD has the best potential. Anyway, right now I prefer staying long on all the three crosses, but with less focus on EURCHF.