EUR/CHF Technical Analysis for August 12, 2011

The EUR/CHF pair rose on Thursday as traders ran from the Franc due to a comment from SNB officials suggesting that a peg to the Euro might be a possible solution to the rapidly appreciating Franc. This spooked the Franc bulls, and the buying of this pair kicked off. The trend is down, and it remains so. This move is setting up as another pop in the pair that could be sold if we see bearish action. The 1.10 area is just above, and we are very interested in selling at that area if we get negative candles. We do not buy this pair under any circumstances.

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