EUR/CHF Technical Correction, August 18, 2011 (Daily Strategy)

EUR/CHF

The Swiss central bank has been working diligently to suppress the rise in rise of the Swiss franc, which is making business more difficult and more expensive for Swiss companies.

In the long term the policy of the SNB is to take all measures deemed necessary and within its mandate to maintain the Swiss franc below.

Therefore, we believe that the upward sequence the Euro - Swiss Franc pair even still has a long way to go before the couple should seek confirmation support around 1.0742 or even lower and then continue its upward sequence, this level would be a good exit point our short position,