FX.co ★ EUR/CHF Bullish Outlook, August 11, 2011 (Daily Strategy)

EUR/CHF

Yesterday the Swiss National Bank stepped forward to increase liquidity in order to stop the hyper-appreciation of the Swiss Franc.

At the technical level, the Euro domination by the CHF could take a break. We believe it is time to buy euros and sell francs to the 1.1040 resistance level.
The MACD indicator shows signs of bullish signal.