EUR/CHF rose during the session on Monday as it approached the 1.20 “floor”. The Swiss National Bank will certainly take notice of any move below that level, so this pair cannot be sold at this point. The SNB could possibly be acting clandestinely at this point as well, just as the Bank of Japan had done last month in the USD/JPY pair. With this in mind, this is a “buy only” pair, and could be purchased at this level. However, don’t expect much in the way of fireworks as this pair will grind slowly over time.
EUR/CHF Forecast February 28, 2012, Technical Analysis
Originally posted here
