By FX Empire.com
The EUR/CHF pair had a range bound session on Tuesday as traders continue to wrestle with the EU problems and the intensity of the Swiss Central Bank and its intervention intentions. The 1.20 area is a well-known floor in this pair, so we haven’t been able to short it for some time now. However, it is also going to be hard to buy, as the Euro represents an area of the world that is simply far too toxic at the moment, and the EU would have to pull it all together in order to make this a good buy. Once they do – this pair will be a long-term trade to the upside, but we are a long way away from that these days.
Originally posted here
