EUR/CHF on a Tear – The Swiss Are Going Crazy

The Swiss are going crazy because they can’t figure out what to do with their currency. Yesterday, EUR/CHF collapsed after SNB President Roth ruled out intervention. This morning, the currency pair has completely reversed its earlier losses because the Finance Minister said that the government would support the SNB in selling Swiss Francs.

It certainly smells like there are some political disputes over in Switzerland, which is never good for a currency. Either way, USD/CHF is in the buy zone and there is a lot of support around the 1.1375 to 1.1420 level. We could see a move up to 1.18.

EUR/CHF

Image: eSignal

About Kathy Lien 236 Articles

Kathy Lien is an Internationally Published Author and Chief Strategist of DailyFX.com, one of the world’s most popular online websites for currency research. Her trading books include the highly acclaimed, Day Trading the Currency Market: Technical and Fundamental Strategies to Profit form Market Swings (2005, Wiley); High Probability Trading Setups for the Currency Market E-Book (2006, Investopedia); and Millionaire Traders: How Everyday People Are Beating Wall Street at Its Own Game (2007, Wiley). As Chief Currency Strategist at FXCM, Kathy is responsible for providing research and analysis for DailyFX, the research arm of FXCM. She also co-edits the BK Forex Advisor, an Investopedia.com Premium Service with Boris Schlossberg – one of the few investment advisory letters focusing strictly on the 2 Trillion/day FX market.

Kathy is also one of the authors of Investopedia’s Forex Education section and has written for Tradingmarkets.com, the Asia Times Online, Stocks & Commodities Magazine, MarketWatch, ActiveTrader Magazine, Currency Trader, Futures Magazine and SFO. She is frequently quoted by Bloomberg, Reuters, the Wall street Journal, and the International Herald Tribune and has appeared on CNN, CNBC, CBS and Bloomberg Radio. She has also hosted trader chats on EliteTrader, eSignal and FXStreet, sharing her expertise in both technical and fundamental analysis.

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