During yesterday’s trading session EUR/CHF traded within the range of 1.2162-1.2202 and closed at 1.2186.
At 7:29 GMT today EUR/CHF was gaining 0.02% for the day to trade at 1.2187. The pair touched a session high at 1.2192 at 7:10 GMT.
Fundamental view
At 8:30 GMT the Swiss National Bank (SNB) is expected to announce its decision regarding borrowing costs. The median estimate by experts points that interest rates will be left in the range between 0% and 0.25% at the banks policy meeting. The cap on the Swiss franc against the euro will probably remain at 1.2000.
Also at 8:30 GMT, the chairman of the governing board of the SNB, Thomas Jordan, is to take a statement.
Technical view
According to Binary Tribune’s daily analysis, in case EUR/CHF manages to breach the first resistance level at 1.2205, it will probably continue up to test 1.2223. In case the second key resistance is broken, the pair will probably attempt to advance to 1.2245.
If EUR/CHF manages to breach the first key support at 1.2165, it will probably continue to slide and test 1.2143. With this second key support broken, the movement to the downside will probably continue to 1.2125.
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