FxWirePro: EUR/CHF bounce short-lived, renewed coronavirus jitters keep bias lower

EUR/CHF chart - Trading View 

EUR/CHF was trading largely unchanged at 1.1050 at around 10:45 GMT, down from session highs at 1.1070.

Earlier in the day, the Swiss National bank (SNB) kept interest rates unchanged at -0.75% as widely expected and upgraded its GDP and inflation forecasts for 2021. 

SNB now expects the economy to register a growth of 2.5% to 3.0% in the current year and the inflation is seen at 0.2% as against 0.0% anticipated previously.

In the accompanying statement, the central bank reiterated Swiss franc remains highly valued and added that it stands ready to intervene in forex markets if necessary. 

The Swiss franc had a rather muted reaction to the SNB decision. USD/CHF and EUR/CHF trade largely unchanged on the day.

Summary: EUR/CHF trades with a bullish bias. Dips in the pair have held strong support at 21-EMA. Weakness only on break below. On the flipside, the pair is extending sideways at 200W MA resistance. Decisive break above will fuel further gains.