The EUR/CHF pair has sat still again on Wednesday as the market is essentially frozen. The pair is being supported by the Swiss National Bank and now has a “floor” of 1.20 as stated by the SNB. With this being said, the Euro could rise to astonishing heights if the debt crisis could be solved. Unfortunately, the EU just doesn’t seem to be up to the task at this point. The pair cannot fall too far, with the floor being put in. Because of this, we aren’t interested in trading this pair at the moment.
EUR/CHF Forecast Nov. 17, 2011, Technical Analysis