SNB Jordan
SNBs Jordan

Swiss National Bank 's Jordan is speaking saying:

  • S&P prepared to take all measures necessary to bring inflation back into the territorial price stability
  • current monetary policy is not sufficiently restrictive enough to bring inflation back to the range of price stability over the medium-term
  • we are clearly above the range of price stability
  • we have to take action to bring inflation rate down

The USDCHF is trading to new session lows (higher CHF), and testing a swing area on the daily chart between 0.9453 and 0.9479 after the touch comments on inflation. A move below 0.9453 would increase the bears hold on the technical bias. It would probably take a move back above 0.9493-0.9500 to shake the bears hold a bit.

USDCHF
USDCHF moves down to test swing area

Looking at the EURCHF on the daily chart, the pair is moving back below its 100 day MA at 0.9768.

EURCHF
EURCHF falls below the 100 day MA