By FXEmpire.com
The EUR/CHF pair continues to mull about just above the 1.20 level. The area was an imposed “minimum acceptable exchange rate” as defined by the Swiss National Bank. The central bank has also stated that they were willing to “buy unlimited amounts of Euros” to defend the level. Because of this, we don’t dare sell this pair at these lows. The recent attempted breakout was repelled, but in this environment, there is no real reason to think about trying to go short. Because of this, we are willing to buy this pair on shorter time frames and signs of support as we are so close to the most obvious support level in the financial markets.
EUR/CHF Forecast March 20, 2012, Technical Analysis
Originally posted here
