The Euro/Swiss was pegged at 1.20 for the longed time but that ended last September and it made a big move to the upside in January. More recently it has gone up to make new highs again of nearly 1.27. This is all being done very quietly, this pair never moves much but it is slowly drifting upward.
Should there be any further trouble in Europe I think this pair will definitley head back down to 1.20 once again, and it is hard to see how there won't be more trouble given the eurowide unemployment rate. Eventually it might be a good idea to take a short position here, but I'm waiting for the right time.