EUR/CHF: Most bank analysts expect SNB support to hold
If you spend any time in the FXWW chatroom you will get plenty of opportunity to read bank research pieces on the CHF ceiling and whether it will hold or not. I’m basing my opinions primarily on price action and market risk but I think its safe to say that I’m pretty much on my own on this one. All of the research pieces that I’ve read so far are on the side of the SNB and their supposedly ‘limitless’ arsenal.
They may be right, but the risk-reward in buying EUR/CHF at current levels just isn’t there imho. If you are bullish, wait until the bears are exhausted and the Gold referendum is over, then you can buy with more security.