By FXEmpire.com
The EUR/CHF pair continued to grind sideways on Friday as the floor set by the Swiss National Bank at 1.20 held firm yet again. The pair is essentially “dead money” on the short side as the central bank simply isn’t going to let a fall from this point happen. In fact, there is open speculation that the SNB is already buying the Euro at these levels in order to keep the pair above that handle.
This pair can only be bought though, and as a result we have a small long position on. We know that there is a small positive swap, and the central bank is willing to step in if we fall too hard. We aren’t expecting fireworks out of this pair, just very small gains on a daily basis.
Click here a current EUR/CHF Chart.
Originally posted here
