EUR/CHF - EUR/CHF is Again a Free-Floating Currency
EUR/CHF has collapsed after the SNB removed the floor at 1.20000. The subsequent sell-off has stopped at 0.8517, which should act as a support in the coming weeks. An hourly support lies at 0.9715 (intraday low). Resistances can now be found at 1.0263 (50% retacement of yesterday's decline) and 1.0675 (61.8% retracement of yesterday's decline).
The EUR/CHF is again a free-floating currency and has declined to uncharted water. With the upcoming ECB's decision on 22 January, persistent selling pressures are likely to remain on EUR/CHF.