EUR/CHF holds below 1.0900 after ECB decision

EUR/CHF edged a tad higher but overall remained little changed following European Central Bank decision to leave rates and QE unchanged at today’s meeting.

EUR/CHF had pulled back from a weekly high of 1.0903 back below the 1.0900 level before the ECB statement, and continued to trade around 1.0870/80 afterwards, where it is flat on the day.

ECB decided to leave the main rate unchanged at 0.00%  and confirmed that the monthly asset purchases of €80 billion are intended to run until the end of March 2017.

EUR/CHF levels to consider

In terms of technical levels, short-term supports are seen at 1.0856 (20-day SMA), 1.0836 (Jul 19 low) and 1.0800 (psychological level). On the other hand, resistances could be faced at 1.0915 (200-day SMA), 1.0940 (100-day SMA) and 1.1011 (Jun 24 high).