The EUR/CHF pair is simply dead these days. In fact, the Swiss National Bank has made sure of that. The SNB’s line in the sand of 1.20 continues to hold, and it should for the foreseeable future. Understanding this gives us the following set up: If Europe can come up with a solution to the Greek debt problems, as well as do something about the rest of the indebted countries that are in trouble, we now have a floor to trade from in this pair, and by extension – a bottom from which to buy it. Until then, we think this pair will simply sit here.
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