By FXEmpire.com
The EUR/CHF pair had yet another sideways session on Monday as the market still will not attempt to break below the self-proclaimed “floor” in this pair of 1.20 by the Swiss National Bank. This area will certainly invite intervention by the SNB if it gets broken. This is why we simply cannot sell this pair at all. The 1.20 level could give way, and if it does we would be very happy to buy this market as the intervention could send this pair all the way up to the 1.24 level. The pair can also be bought and held onto for the positive swap at the end of the day, as the pair will be backed up by the SNB about 15 pips under the current price.
Click here a current EUR/CHF Chart.
Originally posted here
