{"id":10018,"date":"2010-06-07T09:56:01","date_gmt":"2010-06-07T13:56:01","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=10018"},"modified":"2010-06-07T09:56:01","modified_gmt":"2010-06-07T13:56:01","slug":"swiss-franc-rallies-vs-eur-on-safety-demand","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/06\/07\/swiss-franc-rallies-vs-eur-on-safety-demand\/","title":{"rendered":"Swiss Franc Rallies vs. EUR on Safety Demand"},"content":{"rendered":"<p><strong>By Rita Ruvinski <\/strong>&#8211; The Swiss franc traded within a 100th of a cent of a record high  against the EUR on concern Europe\u2019s debt crisis will spread, boosting  demand for the safest assets. The Swiss currency appreciated as much as  0.5% to a record amid speculation the Swiss National Bank (SNB) may be  stepping back from its policy of selling the franc to stem its  appreciation.<\/p>\n<p>The SNB tends to increase its  interventions in the markets in an attempt to weaken the Swiss Franc.  The moves are seen best against the Euro since the Swiss economy is  based on exports \u2013 Switzerland has a surplus in its trade balance. The  main trading partners come from the Euro-Zone \u2013 Germany, France, Austria  and Italy, all of which border the Alpine nation. A weaker Swiss  currency means more value for exports.<\/p>\n<p>In the current crisis, the Japanese Yen and the US Dollar played this  role. The Swiss Franc on the other hand tends to move by speculators  and the performance of the Swiss economy, which is doing well without  interventions. The Swiss National Bank still wants it to fall. But  despite the SNB\u2019s efforts, the currency is still strong. The Swiss Franc  used to be a \u201csafe-haven\u201d currency that is sought in times of trouble,  are things changing?<\/p>\n<p><strong>Technical Analysis<\/strong><\/p>\n<p><strong>EUR\/CHF:<\/strong><\/p>\n<p>&#8211; The market has finally managed to take out key support by 1.4000 to  accelerate to fresh record lows with targets 1.3855 &amp; 1.3785 in  extension. While we do not rule out the potential for a rebound, the  continued downside pressure may push the CHF to 1.35 per EUR within 3  weeks.<\/p>\n<p><strong>EUR\/CHF Weekly Chart<\/strong><\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/06\/EURCHF-Weekly-Chart.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/06\/EURCHF-Weekly-Chart.JPG\" alt=\"\" width=\"595\" height=\"543\" \/><\/a><\/p>\n<p><strong><em>Forex Market Analysis<\/em> provided by\u00a0<a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">Forex      Yard.<\/a><\/strong><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and      may not be suitable for all investors. There is a possibility that    you   could sustain a loss of all of your investment and therefore you     should  not invest money that you cannot afford to lose. You should  be    aware of  all the risks associated with Foreign Exchange trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Rita Ruvinski &#8211; The Swiss franc traded within a 100th of a cent of a record high against the EUR on concern Europe\u2019s debt crisis will spread, boosting demand for the safest assets. The Swiss currency appreciated as much as 0.5% to a record amid speculation the Swiss National Bank (SNB) may be stepping &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/06\/07\/swiss-franc-rallies-vs-eur-on-safety-demand\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Swiss Franc Rallies vs. EUR on Safety Demand&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-10018","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10018","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=10018"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/10018\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=10018"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=10018"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=10018"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}