- EUR/CHF is trading at 1.2042, after running into decent supply ahead of the 1.21 resistance level
- The market is not very impressed by the SNB decision to introduce negative interest rates
- Many were expecting such a move sooner or later, so after the knee-jerk reaction, the pair quickly retraced most of the gains
- Consolidation in the mid-1.20s seems like the most likely scenario
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