EUR/CHF Technical Analysis October 28, 2011

The EUR/CHF pair sat fairly still during the Thursday session, which was odd considering how the Euro absolutely took off against the Dollar. This in concert with the Italian debt yields still leaves some real doubts as to the length of this relief. The Swiss National Bank has put in a “floor” at the 1.20 level, and this could keep this pair higher. But knowing this, the market still didn’t buy this pair at all. Odd, and worrisome to be honest. The pair could be a harbinger of more Euro troubles to come. Maybe you cannot trade this pair right now, but the truth is that it can be an indicator for the overall strength of the Euro, no matter what it does against the USD.