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The secrecy laws were amended in 2009 to limit tax evasion by non-Swiss account holders.
The Swiss National Bank has long followed a zero inflation policy; this has combined with the country's political neutrality to make the franc an exceptionally strong and stable currency.
As a result, this price point is the key level for AUD/USD for any subsequent bearish moves.
Traders often analyze the 5-wave impulse sequence and 3-wave corrective sequence to help them trade forex strategically.
We cover these wave sequences in our found that traders who risked less than their profit target tended to have more consistent results because they did not need to be right on every single trade.
The franc's so-called safe haven status means that it appreciates during times of economic and political instability; this was particularly the case when the European debt crisis erupted in 2008.
In September 2011, the Swiss National Bank began an active policy of intervention in the currency markets combined with interest rate cuts in order to weaken the franc against the euro, capping its strength at 1.20 francs to the euro.
We are showing the minor wave in January that finished wave ‘Y’ was a truncated diagonal pattern.
Therefore, the orthodox termination point of the wave was the January 31 high of .8117.
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