By FXEmpire.com
EUR/CHF had a wild day on Wednesday as the Swiss National Bank announced a series of ideas to keep the Franc down against the Euro. However, a lot of traders expected a peg, so this was actually very bearish for the Franc. During the day we saw that sentiment change a bit though, and because of that – we exited the day fairly flat.
We think the 1.15 area should be rather resistive, and would be willing to sell on weakness at this level, but we are not seeing it currently. 1.20 would be the next possible selling opportunity in this pair. With all of the problems in Europe, one feels it is only a matter of time before this pairs starts to fall, overwhelming the Swiss National Bank yet again.
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