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USD/CHF dived to 0.9366 on unchanged SNB rate

FXStreet (Moscow) - USD/CHF was hesitant before the SNB rate decision shyly testing 0.94 support, however, it slid to 0.9366 session low post the event.

SNB – it’s all over

The pair was focused on the SNB rate decision, since there were rumors in the market the monetary authorities may introduce negative rates following the ECB steps. The regulator decided to leave 3-month libor target rate unchanged at 0.0-0.25%, confirming that low price pressure and slowing European economy is not a problem for the Swiss economy so far. The initial reaction of the pair was the move to 0.9366 low, before it returned to current level at 0.9376. The next target to the downside may lie at 0.9347.

What are today’s key USD/CHF levels?

Today's central pivot point can be found at 0.9386 with support below at 0.9347, 0.9281 and 0.9242, with resistance above at 0.9452, 0.9491, and 0.9557. Hourly Moving Averages are bullish, with the 200SMA at 0.9350 and the daily 20EMA bullish at 0.9269. Hourly RSI is bullish at 60.

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