SNB’s Zurbruegg: It is not roll of monetary policy to cure risks to financial system

• Vulnerabilities have increased and Swiss real estate market
• Swiss apartments overvalued by 10% to 35%
• SNB continues to monitor developments in real estate market
• It is not roll of monetary policy to curb risk to financial system

The  USDCHF  is trading back below its 100 hour moving average at 0.93129 and its 200 hour moving average at 0.93304.

However at the low today, the pair did find support against what has been a swing area between 0.9293 and 0.92964.

The price did move below that swing area last Friday, but rebounded and closed back above the level. On Monday, the low price stalled against the level and pushed higher reestablishing the area as support.

The high price today did find resistance against another swing area this time at the highs between 0.93749 and 0.93819.