The Swiss National Bank shocked the market on Sept 6, 2011 when they
introduced a EUR/CHF floor of 1.20. The pair rose to 1.2650 (May 20 2013).
Since then, it has been sliding, leaving a series of lower highs (as shown on
the weekly chart) to reach 1.2105 (March 3 2014).
Lately, bears broke below the triangle consolidation range,
confirming bearish continuation and offering scope for a retest of the 1.2105
low.
September 6, 2014 will mark the 3-year anniversary of the peg.
The SNB never put a timeline on the actions, only saying it was
to prevent deflation. What the SNB is going to do with the peg in September is
going to be closely watched. Any change around the peg will cause volatility.
EURCHF weekly chart
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