From now on we Elev8
We're more than just a broker. We're an all-in-one trading ecosystem—everything you need to analyse, trade, and grow is in one place. Ready to elevate your trading?
Trading news
24 Apr 2015
Investors still buying CHF despite intervention threat – Growth Aces
FXStreet (Barcelona) - The Growth Aces Research Team shares the comments of SNB chairman on Forex intervention, and further give the trade setup and key levels for USD/CHF.
Key Quotes
“The chairman of the Swiss National Bank Thomas Jordan said: “As recent developments show, the Swiss franc may strengthen temporarily in response to the current phase of increased uncertainty surrounding the Greek debt problem.” He added: “We will remain active in the foreign exchange market as necessary in order to influence monetary conditions”.”
“Central bank sees the franc as "significantly overvalued" and expects a weakening over time.”
“Investors are not afraid of the possibility of deeper negative rates in Switzerland or SNB interventions and the CHF continued to appreciate today despite Jordan’s comments.”
“We have lowered our sell order on the USD/CHF to 0.9600, but the strategy is quite risky due to possible interventions.”
“USD/CHF: sell at 0.9600, if filled - target 0.9365, stop-loss 0.9700, risk factor ***”
“Resistance: 0.9595 (100-dma), 0.9614 (10-dma), 0.9718 (high Apr 23)”
“Support: 0.9500 (psychological level), 0.9482 (low Apr 3), 0.9447 (low Feb 27)”
Key Quotes
“The chairman of the Swiss National Bank Thomas Jordan said: “As recent developments show, the Swiss franc may strengthen temporarily in response to the current phase of increased uncertainty surrounding the Greek debt problem.” He added: “We will remain active in the foreign exchange market as necessary in order to influence monetary conditions”.”
“Central bank sees the franc as "significantly overvalued" and expects a weakening over time.”
“Investors are not afraid of the possibility of deeper negative rates in Switzerland or SNB interventions and the CHF continued to appreciate today despite Jordan’s comments.”
“We have lowered our sell order on the USD/CHF to 0.9600, but the strategy is quite risky due to possible interventions.”
“USD/CHF: sell at 0.9600, if filled - target 0.9365, stop-loss 0.9700, risk factor ***”
“Resistance: 0.9595 (100-dma), 0.9614 (10-dma), 0.9718 (high Apr 23)”
“Support: 0.9500 (psychological level), 0.9482 (low Apr 3), 0.9447 (low Feb 27)”