By FXEmpire.com
The EUR/CHF pair attempted a rally for the session on Wednesday, but ended up printing a shooting star as the momentum simply isn’t there in this market. The pair is currently being held up by the Swiss National Bank at the 1.20 level, and as long as they have that as the “minimum acceptable exchange rate”, there is no way to sell this pair at these low levels. In fact, it is possible to go long with the understanding of simply collecting the swap at the end of the day for holding it. Also, if we get a breaking below of the 1.20 level, there is a good chance that the SNB will intervene and send this pair up much higher.
Click here to read EUR/CHF Technical Analysis.
Originally posted here
