By FXEmpire.com
The EUR/CHF pair fell for the session on Friday as the bears continue to push this pair lower. However, the 1.20 level just below is the well-known “minimum acceptable exchange rate” that the Swiss National Bank has put in place, and as a result this pair only has a very limited downside. In fact, it can only be bought at this point. The level will continue to be defended by the SNB, and as a result will hold as they would certainly intervene if breeched. We can only buy, but would have to be very, very patient. Taking short-term gains from the lows is also working, but for only 15 pips at a time or so.
Click here a current EUR/CHF Chart.
Originally posted here
