EUR/CHF Technical Analysis August 15, 2011

The EUR/CHF pair continues to rise as the SNB members suggested that a possible EUR/CHF peg could happen to stem the flow of money into the Franc. The truth is this move is a long way away, and that assumes it actually happens. The pair is decidedly bearish, and we needed this bounce. We are still looking to sell, but as the 1.10 area has been broken, we are looking to see a little more upside and then perhaps some weakness around the 1.15 area. We would sell there on weak candles without hesitation. A break of Friday’s lows gets us selling again as well.

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