The EUR/CHF pair fell during the session on Tuesday again, but got a slight boost towards the end of the session as the announcement of the presumed incoming Greek PM is willing to sign an agreement that promises the continuation of austerity into his term. This was one of the hold ups with the “troika” on dolling out the next bailout fund for the Greeks. With this news, the Euro got a nice pop in the later hours of the day.
The pair is supported by the Swiss National Bank has a floor in this pair at 1.20 as well, and as such we are far too close to the level to sell anyway. With this in mind, we like buying this market for a short-term trade only.