EUR/CHF Technical Analysis August 24, 2011

The EUR/CHF pair rose on Tuesday, but managed to fall short of breaking above the 1.15 level again. The 1.15 level is a massive resistance area, and it seems that the pair simply cannot break it. If it ever does – this would be a massive buy signal. However, we are looking for sell signals as the trend is without a doubt to the downside overall. With the Swiss National Bank willing to step in to get this pair afloat, we might be waiting for that sell signal for a while. Until then, we sit on our hands and let the market tell us what to do. And at this point – it isn’t telling us to buy or sell.

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