EUR/CHF had a fairly quiet week as it scrapes along the lowest part of the recent consolidation area. The level of 1.21 seems to offer decent support, but the 1.20 level is even more important going forward. The Swiss National Bank has set a “floor” in the pair at that level as the “line in the sand” of acceptable exchange rates. The Euro itself cannot be owned because of all of the bad news coming out of the region. With this in mind, this pair is difficult to trade for anything more than short-term trades between 1.21 and 1.24 or so. A break above the 1.25 level on a daily close offers this pair as a long term buy-and-hold, but until that happens – there isn’t much for the long term trader to do.
EUR/CHF Forecast for the Week of January 9th, 2012, Technical Analysis
Originally posted here
