Tue, 24 Apr 2012 02:43:00 +0400
Forex news, EURCHF. Despite the low points of EURCHF currency pair, Barclays analysts suppose that the pair will return to growing.
In their opinion, representatives of Swiss National Bank are unlikely to have been pleased by inflation data, and the perspectives of economic development do not seem optimistic, especially taking into consideration debt problems of eurozone. All this provokes investors’ interest to Swiss franc. The necessity of additional stimulation is rising in current economic conditions; therefore, Barclays is expecting EURCHF currency pair to rise to the maximal point of 1.25.
At the same time BBVA analysts expect EURCHF currency pair to seriously check point 1.2. This will become the reason for currency interventions from Swiss National Bank.
CHF is within long-term flat against USD. According to the experts of Masterforex-V Trading System Department, USDCHF currency pair has finished forming bullish wave А/В of Daily2 level. At this point the pair is forming bearish wave А/В of Н16 level with Daily potential. Further decline will be faced by support at Fibonacci points 0.9076, 0.9060, 0.9046, and 0.9030. Breaking sloping channel MF and pivot MF 0.9194 will signal about the end of bearish trend.
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The Eurozone is reported to have imposed 6-month duties on the import of steel products from China. This way the local authorities are trying to defend the Eurozone’s steel industry, which is currently suffering from overproduction.