EUR/CHF steady after Friday’s fun and games
The EUR/CHF cross seems to be taking a breather after Fridays fun and games, presently at 1.5110, effectively unchanged on the day.
Now I’m a simple soul, as most of you will have gathered by now. Seems to me as though we’re in a fairly solid trading range, with 1.50-1.52 the parameters. With that in mind looks likely we’ll see good interest to buy surface on approaches of 1.5000 and sell interest on approaches of 1.5200. Decent stop orders would likely be placed either side of the paramemters i.e. just below 1.50 and just above 1.52.
The only thing which I think could upset this applecart is a pre-emptive strike by the SNB around current levels. While I’d never rule anything out, think such a move is highly unlikley. The Swiss central bank seems to have confirmed Friday what most felt all along, that 1.5000 is the line they’ve drawn in the sand.