By FXEmpire.com
The EUR/CHF continued to drift sideways on Wednesday as the market continues to respect the “floor” put in this pair by the Swiss National Bank. The pair obviously cannot be sold at this point, as we are just a handful of pips above that 1.20 level that the SNB has announced. Because of this, traders are forced to go long in this market as the backstop to that position by the SNB is massive. An intervention is almost assured sub-1.20, and as a result we have a small position on to the long side that is collecting swap every day. Beyond that, there isn’t much to do in this pair.
Click here a current EUR/CHF Chart.
Originally posted here
