EUR/CHF Technical Analysis for the Week of August 8, 2011

The EUR/CHF pair fell again this past week as the trading world worries about European debt once again. The pair is a safe haven play, and as such gets piled into on the short side every time bad economic news comes out. The EU is a dangerous place to be invested in at the moment, and the relative safety of Switzerland is appealing to traders. The 1.10 – 1.12 area should cause a reaction, and if it doesn’t – the 1.15 will almost certainly do it. We still like selling rallies – and this won’t change anytime soon.

 

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