18 Jun 2015
EUR/CHF muted on SNB decision
FXStreet (Edinburgh) - The Swiss franc remained indifferent following the SNB meeting, with EUR/CHF hovering over the 1.0450/55 band so far.
EUR/CHF unchanged, SNB steady
The cross remained apathetic after the Swiss National Bank left its monetary stance unchanged at today’s meeting with the target range for the 3-month Libor between -1.25% and -0.25% and the interest on sight deposits at -0.75%. The SNB reiterated that negative rates will help weakening the franc over time, which still remains ‘significantly overvalued’.
EUR/CHF levels to consider
At the moment the cross is up 0.01% at 1.0455 and a break above 1.0555 (high Jun.11) would aim for 1.0574 (high Jun.4) and finally 1.0591 (61.8% of 1.0811-1.0236). On the flip side, the initial support lines up at 1.0404 (low Jun.17) followed by 1.0400 (low Jun.3) and then 1.0392 (daily cloud base).
EUR/CHF unchanged, SNB steady
The cross remained apathetic after the Swiss National Bank left its monetary stance unchanged at today’s meeting with the target range for the 3-month Libor between -1.25% and -0.25% and the interest on sight deposits at -0.75%. The SNB reiterated that negative rates will help weakening the franc over time, which still remains ‘significantly overvalued’.
EUR/CHF levels to consider
At the moment the cross is up 0.01% at 1.0455 and a break above 1.0555 (high Jun.11) would aim for 1.0574 (high Jun.4) and finally 1.0591 (61.8% of 1.0811-1.0236). On the flip side, the initial support lines up at 1.0404 (low Jun.17) followed by 1.0400 (low Jun.3) and then 1.0392 (daily cloud base).