EUR/CHF fell slightly during the session on Monday as the consolidation continues in this pair. The pair simply hasn’t been able to break out of the recent range, and is very unlikely to do so in the near term. The reasons are twofold: The Swiss National Bank has placed a “floor” in this pair at 1.20, and the Euro is simply too weak to get above the all-important 1.25 mark. If the pair were ever to get above the 1.25 level on a daily close, it would mark a significant improvement in Euro sentiment, and we would buy and hold. However, in the mean time we simply only have a range to trade – and we are at the bottom of it. We would buy strength here for a handle or two to the upside.
EUR/CHF Forecast January 3, 2012, Technical Analysis
Originally posted here
