By FXEmpire.com
The EUR/CHF pair continued to do very little during the session on Wednesday as the bottom put in by the Swiss National Bank is still being either respected, or covertly enforced by the SNB itself. The 1.20 mark should be solid as the market for this pair is somewhat small. In this kind of situation, the Swiss can hold the level up as long as they are willing to get involved.
This obviously means that we cannot sell this pair, as we are only 10 pips above this line. The buying of this pair does yield a slight positive swap, and we have a small position in this market that gains just that every day. If the level gets violated, the Swiss will intervene and move this pair much higher. If that happens – we would gain large amounts of money. This is the only way we can be involved at this point.
Click here a current EUR/CHF Chart.
Originally posted here
