Wednesday, July 8, 2009

Analysts forecast a decline in euro / franc

Zuercher Kantonalbank Currency strategists believe that a pair of euro / franc was preparing to decline. And although it is unlikely to be rapid, if the couple is still able to penetrate the support level at 1.5137, the fall may increase. Another strategy has the support of foreign exchange rates pose 1.5110 and 1.5080. As UBS is also believed that the pair euro / franc is losing support, even though the threat of intervention by the Swiss National Bank. According to analysts of UBS, in the short term, central Switzerland, could not stand up for the level of 1.50, so as to dispel expectations of the market. This means that euro / franc could fall below the 1.50 mark before the Swiss National Bank will take any action. At this time, a pair of euro / franc traded at around 1.5160.

No comments: