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19 Mar 2015
EUR/CHF awaits SNB decision
FXStreet (Mumbai) - The EUR/CHF pair awaits the Swiss National Bank (SNB) rate decision due later today, as it trades moderately higher at 1.0648 levels.
CHF eyes SNB rate decision
The Swiss Franc could drop sharply if the SNB decides to cut rates further into the negative territory contrary to the expectations of the status quo policy. However, markets do not see SNB announce such a move. The SNB is widely expected to keep its policy rate unchanged at -0.75% and preserve the target range for three-month Libor at -1.25/-0.25%, in its 19 March meeting.
However, the bank is also expected to revise its growth and inflation forecasts lower. Meanwhile, on FX front, the bank is likely to reiterate its ready to intervene if required.
EUR/CHF Technical Levels
The pair has immediate resistance at 1.07, above which gains could be extended to 1.0750 levels. On the flip side, a break below 1.0635 (10-DMA) could send the pair down to 1.0553 levels.
CHF eyes SNB rate decision
The Swiss Franc could drop sharply if the SNB decides to cut rates further into the negative territory contrary to the expectations of the status quo policy. However, markets do not see SNB announce such a move. The SNB is widely expected to keep its policy rate unchanged at -0.75% and preserve the target range for three-month Libor at -1.25/-0.25%, in its 19 March meeting.
However, the bank is also expected to revise its growth and inflation forecasts lower. Meanwhile, on FX front, the bank is likely to reiterate its ready to intervene if required.
EUR/CHF Technical Levels
The pair has immediate resistance at 1.07, above which gains could be extended to 1.0750 levels. On the flip side, a break below 1.0635 (10-DMA) could send the pair down to 1.0553 levels.