By FXEmpire.com
The EUR/CHF pair fell slightly as the markets worried about weak European manufacturing numbers on Thursday. The pair has a massive floor in it at the 1.20 level though, as the Swiss National Bank has labeled it the “minimum acceptable exchange rate” for this market. The pair can only be bought as a result, and as such we are comfortable buying here, but also understand that we will have to be patient as this market has been moving rather slowly. If the pair falls to a sub-1.20 level, there is a real chance of intervention, which of course will work in our favor if we are long of this pair. If that happens, we suspect that the 1.24 level is about where the move would stop.
EUR/CHF Forecast March 23, 2012, Technical Analysis
Originally posted here
