By FXEmpire.com
The EUR/CHF pair continues to grind sideways and do nothing just above the 1.20 level, as the Swiss National Bank continues to defend the level. The SNB is prepared to intervene if the level get broken by “buying unlimited Euros” to quote the central bank. Because of this, we obviously can’t sell this pair. In fact, the only trade at the moment is to buy it and collect the positive swap in the mean time. The worst case scenario would be that the level gets broken, and the Swiss will intervene, pushing prices much higher. However, after is all said and done, this would take patience as we never know when that time would come.
Click here to read EUR/CHF Technical Analysis.
Originally posted here
