EUR/CHF hits fresh 4-month lows, approaches to dangerous area

The EUR/CHF dropped further and continued approaching the key level of 1.20, that the SNB is “determined to defend.” The pair recently reached at 1.2033, the lowest price since September 14.

Eyes continue over what the central bank of Switzerland could do if the pair continues falling. During the European morning the EUR/CHF rose to 1.2062 but quickly turner back to the downside and accelerated below 1.2048. It is headed toward the fifth daily decline in a row.

The decline of the pair is boosted by a weak Euro across the board. Despite rising versus the Euro, the Swissy is falling sharply versus the Pound and the US Dollar.

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