EUR/CHF Technical Analysis August 23, 2011

The EUR/CHF is essentially a dead market at this point. The Monday action was virtually non-existent, and will more than likely remain so as the Swiss National Bank has been active in trying to push this currency pair up. The pair seems to want to fall, but with the central bank meddling in this market it will be tough for it to do so. The 1.15 level certainly is resistance, but if we can break above it – we will run to 1.18 or so. If we can get a larger red candle, we go to 1.10 and eventually parity. Until we get one of these signals, we are sitting tight.

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