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11 Dec 2014
EUR/CHF falls sharply as SNB leaves Policy Unchanged
FXStreet (Mumbai) - The single currency witnessed a sharp fall against the Swiss Franc immediately after the Swiss National Bank (SNB) monetary policy announcement.
The pair now trades at 1.2017 levels, down -0.10% on the day, almost trading close to day’s low levels of 1.2015 hit immediately after the policy decision. The Swiss franc rose against the Euro as the SNB left policy on hold with no negative deposit rates announcement, as largely expected by market participants. The central bank left its benchmark deposit rate at a record low of 0.00%.
EUR/CHF Levels to consider
To the upside, the next resistance is located at 1.2032 (Dec 9 High) and above which it could extend gains to 1.2058 (Dec 4 High) levels. To the downside immediate support might be located at 1.2009 (Dec 10 Low) and below that at 1.1993 (Nov 24 Low) levels.
The pair now trades at 1.2017 levels, down -0.10% on the day, almost trading close to day’s low levels of 1.2015 hit immediately after the policy decision. The Swiss franc rose against the Euro as the SNB left policy on hold with no negative deposit rates announcement, as largely expected by market participants. The central bank left its benchmark deposit rate at a record low of 0.00%.
EUR/CHF Levels to consider
To the upside, the next resistance is located at 1.2032 (Dec 9 High) and above which it could extend gains to 1.2058 (Dec 4 High) levels. To the downside immediate support might be located at 1.2009 (Dec 10 Low) and below that at 1.1993 (Nov 24 Low) levels.