EUR/CHF fell during the session on Monday as traders continue to sell off the Euro in general. The pair has been consolidating lately, and despite the resignation of the Chairman of the Swiss National Bank, the “floor” at 1.20 remains intact and the downside is certainly going to be somewhat limited. With this in mind, we are not willing to sell at this point. The buying of this pair is possible, and we would consider it the closer we get to the 1.20 handle. On a supportive candle below, we will buy this pair as the SNB should provide a nice backstop for us.
EUR/CHF Forecast January 10th, 2012, Technical Analysis
Originally posted here
