By FX Empire.com
The EUR/CHF pair rose during the session on Tuesday as rumors of a possible Greek bailout agreement spread. However, there was no agreement at the end of the day, and the pair sold off a bit as a result. The 1.21 level seems to have held as resistance, and we think that it is the start of resistance to the rise in this pair going forward.
With the various headline risks that are out there, we think this pair could very well fall again, and we are willing to buy these dips as the Swiss National Bank has a “floor” in this pair at the 1.20 level, and the market should provide us opportunities in the near future as the Greek drama seems to never end.
EUR/CHF Forecast February 8, 2012, Technical Analysis
Originally posted here
