EUR/CHF - Declining Towards 1.2000
EUR/CHF has moved below the support at 1.2030, confirming persistent strong selling pressures. A test of the SNB's threshold at 1.20 is likely. Hourly resistances can now be found at 1.2048 (intraday high) and 1.2058 (06/11/2014 high).
In September 2011, the SNB put a floor at 1.2000 in EUR/CHF, which will be enforced with the "utmost determination". As a result, sideways moves are favoured in the medium term.