EUR/CHF Forecast December 23, 2011, Technical Analysis

The EUR/CHF pair had another quiet day for the Thursday session as the pair rallied, but only slightly. The Euro also gained against the Dollar, so this was more than likely a sympathy move. This market has a “floor” at 1.20 that has been set by the Swiss National Bank, so we don’t short at these lower levels. The buying of this pair is possible, but you are going to have to be very patient as this pair can grind sideways for quite some time. It should be noted that the 1.25 level above is major resistance that doesn’t look likely to be broken anytime soon as well.