MS does believe that the floor will break however...

What do you mean with "floor"?

1.20?
or even 1.00?

The 1.20 EUR/CHF floor is likely to hold over the next few months as the ‘Draghi put’ continues to ease euro area tail risks, reducing capital flight into Switzerland, says Morgan Stanley. However MS believes that the 1.20 level will ultimately be broken as the SNB comes under pressure from domestic factors and tensions in the euro area re-emerge.

"We believe that the current EUR rebound will be temporary. The Draghi put will likely increase political complacency and political tensions in the euro area will re-emerge, in our view. As such, we believe that investors will once again seek safety in Switzerland, pressuring the 1.20 EUR/CHF level, MS adds.

"Furthermore, the SNB’s balance sheet has ballooned, and the majority of its holdings remain in EUR, creating balance sheet risk which could threaten the SNB’s credibility. As such, the bank may find it difficult to continue to accumulate FX assets at the same pace as before. We therefore believe that EUR/CHF will fall below 1.20 next year," MS concludes.