The EUR/CHF pair had another negative week over the last five sessions as the situation in Europe fails to instill confidence in traders. The pair looks very heavy, but the 1.20 level just below is the “line in the sand” for the Swiss National Bank as it says an exchange rate below that level is “unacceptable.”
The pair looks like it wants to fall to test that level. However, with the tight trading conditions going forward, we cannot see any real long-term trading opportunities until the pair can close above the 1.25 level – something that isn’t likely to happen for a long time.
EUR/CHF Forecast for the Week of January 2, 2012, Technical Analysis
Originally posted here
