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Forex: EUR/CHF bounces back to 1.2153/54

FXstreet.com (Barcelona) - The EUR/CHF fell sharply after the announcement of the ECB interest rate decision to the 1.2140 level, however this proved to be short-lived. A recent bounce from here has the pair trading back in positive territory at 1.2153/54, up +0.07% Thursday.

According to the ICN.com analyst team, “We maintain a neutral stance on the EUR/CHF as there is a significant support at the 1.2120 level – a break below this would be a major bearish development. Resistance is at 1.2184 ahead of 1.2202.”

Earlier today, the ECB decided to continue its inaction by keeping intact the 0.75% interest rates, largely in line with expectations. Regarding the recent statement, Draghi confirmed that he had not held a meeting with Italian politician Bersani and that the ECB believed that this was not the right time to look at a rate cut.

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