Global macro overview for 11/12/2015:
Libor rate was kept unchanged yesterday (-0.75%) and the Swiss National Bank monetary policy assessment continued its pledge to intervene if needed to push back the strong franc. The central bank left its target range for three-month Libor at between -1.25% and -0.25% in line with expectations, but it said it would remain active in the currency market if necessary. Moreover, the SNB admitted again that it will defend the national currency against excessive appreciation, as it harms the Swiss economy.
The EUR/CHF pair is trading below the long-term golden trend line, but just right at the important daily support at the level of 1.0822. The next support is seen at the level of 1.0712 and next resistance is seen at the level of 1.1048.
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