EUR/CHF is trading at a two-day low of 1.2178 after failing ahead of resistance at 1.2215.
Many of the trades in the past few hours reflect apprehension about the crisis in Crimea and what could happen over the weekend. The market hasn’t forgotten the first ‘invasion’ was launched on a weekend.
I think the fears are overblown but if if more trouble stirs over the weekend, EUR/CHF is underpinned by the SNB and the downside is limited. Meanwhile, the technicals are appetizing after the Tuesday turnaround.
EUR/CHF – daily
Alternatively, if troubles do breakout on the weekend, look to buy on a dip.
