Chart - Courtesy Trading View
EUR/CHF was trading 1.70% lower on the day at 1.0200 at around 10:45 GMT.
The Swiss franc was buoyed across the board after Swiss National Bank (SNB) surprised markets with a 50 bps rate hike.
In the policy statement that followed, the SNB left the door open for further rate hikes to counter rising inflationary pressures.
The hawkish central bank outcome boosted the Swiss franc across the board and prompted aggressive selling around the pair.
Upside in the pair has been rejected at 200-DMA multiple times. The pair has now slipped below daily cloud.
Momentum is bearish. Volatility is high, RSI has slipped below 50 mark. MACD confirms bearish crossover on signal line.
The pair has hit 8-week lows, scope for test of April lows at 1.0087 ahead of lower Bollinger Band at 1.0044.
