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SNB meets tomorrow and will almost certainly leave monetary policy unchanged. Even though franc weakened against euro markedly in the past couple of months, they will probably reiterate that it remains significantly overvalued. That would be a green light for EUR/CHF bulls.
USD/CHF, however, has been under pressure, owing to U.S. dollar weakness. Strong demand has been notable below 0.95, part of which could likely be attributed to the SNB itself. 50 DMA is the immediate resistance and 100 DMA the next but a real test will come at 0.98.
USD/CHF, however, has been under pressure, owing to U.S. dollar weakness. Strong demand has been notable below 0.95, part of which could likely be attributed to the SNB itself. 50 DMA is the immediate resistance and 100 DMA the next but a real test will come at 0.98.
