USD/CHF - The USDCHF currency pair is often called 'The Swissie'. The Swiss Franc is the last Franc still in issuance in Europe. CHF is shorthand for 'Confoederatio Helvetica' Franc, and represents the economy of the neutral nation situation in the center of Europe. Switzerland has long been a key banking center for customers around the world, and the secrecy with which they maintain their banking operations has made them one of the more desireable locations for storing cash. This has helped to bring considerable strength to the Swiss Franc, pressuring exporters from the nation. When the European Debt Crisis enveloped the continent, massive inflows into Swiss Francs made the situation worse until eventually the Swiss National Bank (SNB) created a peg to the Euro at a rate of 1.2 Euros for every 1 swiss Franc. If the EURCHF currency pair fell below 1.20, the SNB proposed to sell CHF and buy EUR to support the 1.20 floor.
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USD/CHF Support & Resistance
W - Weak | M - Moderate | S - Strong
Tue, 02 Sep 2014 22:01:00 GMT