By FX Empire.com
The EUR/CHF pair continues to tread water just above the 1.20 level. The 1.20 level is a massive support level as the Swiss National Bank has labeled it as a “floor” in the pair. The pair simply cannot be sold at this point because of this. In fact, we are willing to buy this pair on any signs of support close to that level. The backstop of course is the Swiss National Bank, and as they simply have to intervene – it is a great stop loss of sorts. However, on some kind of intervention, the trade would simply be a short-term move, and we would be willing to take profit fairly quick.
EUR/CHF Forecast February 7, 2012, Technical Analysis
Originally posted here
