FxWirePro: Markets wary about SNB intervention after EUR/CHF breaches key support at 1.1183, hits 20-month lows

EUR/CHF chart - Trading View 

• EUR/CHF has breached key support at 1.1183 on Thursday's trade and has closed at 1.1173.
   
• The Swiss National Bank (SNB) at its monetary policy meeting earlier this month reiterated that the franc is "highly valued". 
   
• Breach at key technical support at 1.1183 has now raised the possibility for intervention by SNB to curb further appreciation in the franc.
   
• German bunds slid deeper into the negative territory, also aiding in downside.
   
• Technical studies on weekly charts show more pain for the pair. Scope for dip till 61.8% Fib at 1.1152.
   
• SNB intervention could see a pop in CHF crosses. Retrace above 200-DMA could see further upside.

Support levels - 1.1183 (key trendline support), 1.1152 (61.8% Fib)

Resistance levels - 1.1195 (5-DMA), 1.1279 (21-EMA)

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.