Forex news, Franc rate. Swiss National Bank seems to keep its word by protecting the set minimal point for EURCHF, namely, 1.20. According to dealers, if this point is broken, the pair will rapidly decline to 1.17.
It is said at the market that SNB is getting a considerable sum in euro for its actions at Forex market, and market players are very much concerned about the distribution vector of this stock of money. There are rumours that the National Bank pays in euro for Norwegian and Swedish krona. According to some dealers, SNB charges euro for performing transactions with US dollar, British pound, Canadian and Singaporean dollar, as well as Korean won.
Dealers have also informed about large-scale purchases of franc by one of Dutch banks, which seems be acting at the request of Dutch government or on behalf of Middle Eastern region.
USDCHF currency pair seems to be proving its intentions of further long-term decline. According to the experts of Masterforex-V Trading System Department, USDCHF has formed Weekly FZR at the point of 0.9594. At this point sub-wave А(С)/С, bearing Monthly potential, is being formed as a part of bullish wave А/В. Fibonacci point 0.9682 represents the closest resistance. The long-term bullish trend will be over when sloping channel MF and pivot MF 0.9001 are broken.
