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Forex: EUR/CHF remains around 1.2350 after SNB decision

The Swiss franc is easing some ground against the single currency after the SNB left its 3-month Libor band unchanged at 0.0%-0.25% and the minimum exchange rate at CHF 1.20 per euro, broadly in line with market consensus.

In the statement, the SNB assessed that tensions in the euro area would likely increase again and it sees no risk of inflation in the Alpine economy in the upcoming periods.

As of writing, the pair is up 0.09% at 1.2358
Next resistance levels line up at 1.2391 (high Mar.8) ahead of 1.2404 (Upper Bollinger) and then 1.2405 (high Feb.4).
On the flip side, a breakdown of 1.2305 (low Mar.7) would bring 1.2294 (MA21d) and then 1.2277 (low Mar.6).

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