The SNB’s currency reserves increased up to ₣237.5B in March against February’s ₣227.2B.
As we can see, the reserves remain stable, so does the SNB’s intension to defend the 1.2 level of EURCHF. This is a step against the eurozone crisis.
Nevertheless, EURCHF tested 1.2 and rebounded down to 1.190. Later the currency rate exceeded the 1.2 level. The SNB gave no commentaries on the issue but reported they kept monitoring the currency pair.
According to , the Swiss Franc has just suspended its short-term weakening against the US Dollar. USDCHF is showing that the rally is probably about to be over. A break below the MF pivot 0.9142 (followed by a downward FZR0 will confirm the supposition, thus initiating wave A/B. In this case, 0.9015 and 0.9001 will become the closest levels of support. A break above the 0.9221 high will resume the forming of wave А/В of Daily. In this case, the price may encounter resistance around 0.9253 and 0.9334.
