SNB rattles the intervention threat
SNBs Maecher is on the wire saying:
- negative interest rates, market interventions are needed to prevent franc rise
- inflation ratestill low despite negative interest rates, currency market interventions
The EURCHF is trading above and below it's 100 day moving average of 1.13291. The low today is trying to hold support against the 100 horu MA at 1.13158. Yesterday, the pair moved above the December 24 high of 1.13439, but quickly retreated. For traders to continue to stay on the lower CHF train, saying above the 100 hour moving average (and the 200 hour MA below at 1.12978) will need to hold support.
