By FXEmpire.com
The EUR/CHF pair continues to grind sideways and just above the 1.20 level as the market worries about the Swiss intervening. This is a reaction to the “minimum acceptable exchange rate” of 1.20 in this pair as dictated by the Swiss National Bank. Because of this, there is only one direction you can go in this pair – and that is from the buy side. However, there is little in the way of a catalyst in order to get the market to rise. After all, few people actually want to own the Euro. F we get a break down, we could see a massive intervention, and this would push the market up to about 1.24 or so. However, if you are to buy, patience is needed. Selling can’t be done under any circumstance.
Click here for updated EUR/CHF News.
Originally posted here
