By FXEmpire.com
One has to wonder where this pair would be if the Swiss National Bank wasn’t involved in stemming the rise of the Franc. Presently, we saw another flat but volatile day on Thursday in this pair and the 1.15 area seems to be where the market is most comfortable with it.
The pair looks like it is a little tired, but few traders are brave enough to test the SNB at the moment, and this could continue to keep this pair up in this area for a while. The 1.10 below should be supportive as well, and the 1.18 above has been support and resistance in the past as well, and could affect price as well when and if we get there. Either way, we feel the real signal will be based off of the weekly chart in the form of a large candle. At this point, we can only guess as to the direction as the market is being artificially propped up at the moment.
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