Wednesday, October 12, 2011

EUR/CHF ~ Update ~ 12 October 2011

Not much happened since the intervention of the SNB:

The EUR/CHF has slowly approached the resistance around 1.24-25 and the long-term downtrend line. I think this area will be very hard to break so a trading range of 1.20 to 1.24 for the next few weeks/months is likely.

Should we break above it though then we could see a move to 1.32ish.