By FXEmpire.com
The EUR/CHF continued to move sideways on Tuesday as the market cannot break below the Swiss National Bank’s “minimum acceptable exchange rate” of 1.20 currently. The level is one of the most widely known boundaries in the Forex markets, and as a result few are willing to step in and move against the SNB at this point. The pair is essentially “stuck” at this point, and only good for carry trading. In other words collecting the minute amount of positive carry at the end of the day by being long. The pair simply cannot be sold as intervention continues to be a real threat below.
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Originally posted here
