The EUR/CHF pair rose on Wednesday, and then fell later as the Euro in general took losses after the Federal Reserve’s disappointing statement. The pair has a floor in it at 1.20, but the pair looks likely to fall a bit from here as the daily candle looks much like a shooting star at this point. The 1.20 level could be tested, but we want no part of the challenge against the SNB at this point. We think this pair may return to barely moving for a while at this point in time.
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