USDCHF is trading lower and lost more than 75 pips after SNB kept its rates unchanged at -0.75%. The central bank said that Swiss franc is highly valued and willing to intervene. The pair hits an intraday low of 0.99118 and is currently trading around 0.99144.
Technically the pair is facing strong resistance around 1.000 and any major move only above that level. Any break above targets 1.0030/1.0050.Major trend reversal only above 1.02400.
On the flip side, near term support is around 0.9900 and any violation below will drag the pair to the next level till 0.9850/0.9800.
It is good to sell on rallies around 0.9938-40 with SL around 0.9985 for the TP of 0.9805.
