The US Dollar extended losses versus the Swiss Franc after the US Fed kept interest rates on hold, as was expected. Forward guidance called for interest rates to remain on hold throughout 2020, suggesting a weak economy ahead. The USDCHF completed a breakdown below support, how will this currency pair react after the SNB press conference? Today’s fundamental analysis will take a look at the upside potential as well as the downside risk in this currency pair.

Today’s SNB interest rate decision will be closely followed. Economists expected no change, but the option of an interest rate cut was touted. Forex traders hope for more clarity during the press conference scheduled following the official announcement. The USDCHF has reached a key support area, will the SNB provide enough to force a breakdown? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.