By FXEmpire.com
The EUR/CHF continued to grind sideways on Tuesday as the floor put in by the Swiss National Bank at 1.20 is still being respected. The level will certainly continue to be protected by the Swiss, and as a result we simply cannot sell this pair now that we are so close to it. In reality, the only trade that is possible is a long trade, as the swap is positive and the SNB is going to work against you if you are selling. If the pair breaks below the 1.20 level, you could get a massive pop on intervention as well, so by far the easiest trade is to buy.
Click here to read EUR/CHF Technical Analysis.
Originally posted here
