EUR/CHF fell sharply as the knee-jerk reaction to ECB decision to ease its monetary policy further, with the pair losing more than 80 pips and briefly dipping below the 100-day SMA. EUR/CHF fell to a 6-day low of 1.0890 although it managed to recover slightly over the last minutes. At time of writing, the pair is trading at 1.0922, down 0.41% on the day. In an unexpected move, the European Central Bank cut all three main rates and expanded the monthly amount of asset purchases to €80 billion starting in April. The ECB cut the main rate to 0.00% from 0.05%, the deposit rate to -0.40% from -0.30% and the lending facility rate to 0.25% from 0.30%. Now investors attention turns to ECB President Draghi’s press conference. For more information, read our latest forex news.