By FXEmpire.com
The EUR/CHF pair sat still again on Thursday as the floor remains at the 1.20 level. The Swiss have made is clear that they are willing to do whatever it takes to keep this market above that level, and as a result it hasn’t moved while the Euro has fallen apart against most other currencies. If it weren’t for the Swiss National Bank, it is hard to tell how much lower this pair would be.
However, the SNB is there, and as a result we cannot sell. Buying allows the trader to pick up a bit of swap at the end of every day, but there isn’t much hope of a pop at this point. If the pair falls below the 1.20 mark, it becomes a screaming buy as the threat of intervention increases dramatically.
Click here to read EUR/CHF Technical Analysis.
Originally posted here
