{"id":70438,"date":"2024-06-20T15:17:54","date_gmt":"2024-06-20T05:17:54","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=70438"},"modified":"2024-06-20T15:17:55","modified_gmt":"2024-06-20T05:17:55","slug":"trade-the-swiss-franc-on-the-snb-rate-decision","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/trade-the-swiss-franc-on-the-snb-rate-decision\/","title":{"rendered":"Trade the Swiss Franc on the SNB Rate Decision"},"content":{"rendered":"\n

The Swiss National Bank is due to deliver its latest rate decision today, and traders are bracing themselves for a volatile session, as the outcome is uncertain. There is lively debate in the market about whether the SNB will follow up last month\u2019s rate cut with another or pause to assess further data, in line with many of their contemporaries. Inflation remains towards the upper end of the SNB\u2019s target range, but Chairman Thomas Jordan has indicated that he feels rates are still restrictive.<\/p>\n\n\n\n

The franc is now sitting at levels not seen since mid-March against the dollar, and traders are expecting significant market moves around the event. If the SNB holds rates, the franc should strengthen, potentially breaking the hourly trendline support and opening the way for fresh downside moves in USD\/CHF. Conversely, a rate cut could trigger a rally back into recent ranges. Future guidance will also play a significant role, so expect volatility during the later press conference as well.<\/p>\n\n\n\n

Resistance 2:<\/strong> 0.9090 \u2013 Trendline Resistance<\/p>\n\n\n\n

Resistance 1:<\/strong> 0.8920 \u2013 200 Day Moving Average<\/p>\n\n\n\n

Support 1:<\/strong> 0.8824 \u2013 Trendline Support and Weekly Low<\/p>\n\n\n\n

Support 2:<\/strong>\u00a00.8726 \u2013 March Low<\/p>\n\n\n\n

<\/p>\n\n\n\n

\"\"<\/a><\/figure>\n","protected":false},"excerpt":{"rendered":"

The Swiss National Bank is due to deliver its latest rate […]<\/p>\n","protected":false},"author":1,"featured_media":70440,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[462],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/70438"}],"collection":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/comments?post=70438"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/70438\/revisions"}],"predecessor-version":[{"id":70441,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/70438\/revisions\/70441"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media\/70440"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media?parent=70438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=70438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=70438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}