By FXEmpire.com
The EUR/CHF pair continues to grind sideways and go nowhere as the Swiss National Bank continues to hold the market up. The 1.20 level is their self-proclaimed “minimum acceptable exchange” rate in this pair, and the market has so far respected this. The longer term trader has no real chance at a larger trade at this point, and as a result there is little to do until we see a significant move in either direction. If the market falls below the 1.20 level, we think that the SNB will more than likely intervene and this would have us buying under that level. Otherwise, we stay out.
Click here a current EUR/CHF Chart.
Originally posted here
