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As expected, SNB left monetary policy unchanged. However, the bank downgraded the language on franc overvaluation from "significantly overvalued" to "highly valued". They also marginally bumped up inflation forecasts.
USD/CHF spiked lower initially, but buyers were waiting in the dip and took the pair back to the top end of the short-term range. Area between 100 DMA and 0.97 big figure is the next target. 0.96 - 0.9625 should hold, if the bulls are indeed in control.
USD/CHF spiked lower initially, but buyers were waiting in the dip and took the pair back to the top end of the short-term range. Area between 100 DMA and 0.97 big figure is the next target. 0.96 - 0.9625 should hold, if the bulls are indeed in control.