EURCHF neutral

Strengthening of the Swiss Franc is a long tradition

05 august 2021 113
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Among the major global currencies, the Swiss Franc is famous for its role of a “peaceful haven”.

At the same time, for decades it has been steadily strengthening in relation to almost all global currencies, even the US Dollar.

Let’s have a look at EURCHF.

Based on the graph, the price is moving towards the support line at 1.02. It is worth considering the fact that it’s one of the levels at which the Bank of Switzerland performs monetary interventions to depreciate the currency.

That’s why, there are two scenarios:

First: The price will reach 1,02

Second: Once it has reached 1.02, there is a high chance of it going up again.  

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