By FXEmpire.com
The EUR/CHF pair continued to move sideways during the session on Monday, even as the markets ran from the Euro in the early hours. This pair didn’t budge, and this could be a sign that the Swiss National Bank is currently working against the appreciation of the Franc in the market. Granted, there is a well-known “minimum acceptable exchange rate” of 1.20 set by the Swiss National Bank, but we haven’t seen any open intervention at this point. Because of this quirk in this pair, we can only buy and not sell obviously. We are willing to allocate a small position on the long side in order to take advantage of interest swap and the possible intervention of the SNB.
Click here a current EUR/CHF Chart.
Originally posted here
