By FXEmpire.com
The EUR/CHF pair continued to sit still on Friday as the Swiss National Bank’s declared “bottom” in this pair is just ten pips below. The level has been announced as the “minimum acceptable exchange rate” by the central bank, and as a result it is impossible to sell here. The Swiss also are quoted as saying that they will “buy unlimited Euros” in order to support this market. As a result, a move below the 1.20 level will invite intervention by the SNB, and we wouldn’t hesitate to buy under that mark. In the meantime, we could see a small gain to be made in holding a long position and collecting the daily swap. Otherwise, this is an untradeable market.
Click here to read EUR/CHF Technical Analysis.
Originally posted here
