The alarm went off the other day and EUR/CHF buyers sprung off their bunks to prepare for action. Now two days later everyone that was on alert was standing around picking their noses so decided to return to barracks.
We’re through intraday support at 1.2088/90 and are now down a huge 12 pips from the highs. Next support is at 1.2080.
EUR/CHF H4 chart 12 09 2014
Keep an eye on the converging 100 & 55 h4 ma’s around 1.2073/77 as that could be the support springboard the pair needs to rocket to 1.40 or somewhere else just as dreamy. Failing that support at 1.2070 beckons
I wouldn’t expect to see much downside as there will still be rising expectations ahead of the SNB meeting next week. Until then, strap in and enjoy the ride.
Trading EUR/CHF is not for the faint-hearted
