The 1.5000 area seems to be the line in the sand for EUR/CHF. The Swiss National Bank (SNB) seems determined to defend this level and prevent their currency from appreciating against the Euro. The daily 200 SMA comes in at 1.5152 which could function as near term support and a possible Long entry price level. Stops would be on the other side of the 1.5000 area. A 1:2 risk to reward limit or the March high of 1.5455 would be two possible choices. A break above the 1.5455 level would open up the 1.5879 December '08 high as the next target.
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