EUR/CHF fell on Thursday as the markets continue to sell the Euro in favor of the Franc. The Euro had risen during a lot of the session, but fell in the later hours. This came over to the EUR/CHF pair, and we saw selling in the end. However, we are currently sitting at the 1.2050 to 1.2060 support level. The Swiss National Bank is currently willing to protect the 1.20 level, and as a result – you simply cannot be involved in this pair to the downside. Yes, it is true that markets like to “test” central banks, but as the intervention would almost be a necessity at that point, it’s a great way to lose money. On signs of possible support, we are now willing to buy.
EUR/CHF Forecast January 27, 2012, Technical Analysis
Originally posted here
