By FX Empire.com
EUR/CHF had an interesting day as the market went absolutely nowhere on Thursday. The announcement of the ECB swapping out short-term dated bonds for long-term ones in Greece got people buying the Euro, but not in this market. Because of this, we feel that the Euro will continue to struggle going forward as it cannot gain any real ground against the Franc. However, there is a “line in the sand” at 1.20, and the Swiss area willing to intervene at that level. Because of this, we buy, but closer to 1.20 as it is a natural spot to do so.
EUR/CHF Forecast February 17, 2012, Technical Analysis
Originally posted here
