EUR/CHF fell on Wednesday as the pair continued to try to pressure the support. The Swiss National Bank had its Chairman resign, and some of the news outlets have suggested that the market needs to test the SNB and its 1.20 floor in this pair because of it. Any such talk is simply dangerous as the Swiss will more than likely be forced to defend this area going forward or face a real onslaught in this pair. Because of this, we are not willing to sell here. However, the closer we get to the 1.20 mark, the more interested we are in buying supportive looking candles.
EUR/CHF Forecast January 12, 2012, Technical Analysis
Originally posted here
