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Buy entry for EURCHF at 0.9431.
The stop is 0.9392
According to Bloomberg, Citibank has commented that recent balance sheet data suggests the Swiss National Bank (SNB) is currently selling the Swiss Franc. While the strong Swiss Franc has helped to curb inflation until last year, it has become a burden for export companies due to the high currency value. However, aggressive selling of the Swiss Franc by the SNB may be politically challenging due to concerns about criticism from the United States. Nevertheless, in situations where the Swiss Franc is appreciating, it is assumed that the SNB may intervene by selling Swiss Francs to suppress the currency’s strength. The Swiss Franc depreciation has been notable since the beginning of this year, and it is anticipated that the trend of selling Swiss Francs will continue, attracting attention.
