The Swiss franc continues to depreciate vs. its European peer on Monday, now sending EUR/CHF to test daily highs near 1.0970. EUR/CHF eyes on ECB meeting The cross is navigating 2-week highs in the upper-1.0900s, extending the rebound from last week’s lows in the proximity of 1.0800 the figure. It will be a key week for the cross in light of the ECB interest rate decision due on Thursday. In fact, the SNB will remain vigilant on any undesirable appreciation of the franc in response to additional easing measures that could be implemented by the ECB and have a negative impact on EUR. While market consensus has almost priced in a 10bp deposit rate cur, further measures cannot be ruled out. EUR/CHF significant levels As of writing the cross is gaining 0.31% at 1.0964 facing the next resistance at 1.1000 (psychological level) followed by 1.1070 (high Feb.17) and finally 1.1211 (2016 high Feb.4). On the other hand, a breach of 1.0804 (low Feb.29) would aim for 1.0800 (200-day sma) and then 1.0729 (low Dec.24 2015). For more information, read our latest forex news.