FXStreet (Edinburgh) - According to Pernille Henneberg, Senior Analyst at Danske Bank, the cross points to a sideline pattern the short-term. Key Quotes “We expect no action from the SNB, i.e. policy rates to be kept unchanged and terms and conditions for sight-deposit accounts will likely be left untouched as well”. “Markets price a small chance of a cut today and if we are right about no SNB cut, it would send EUR/CHF lower near term”. “We still think the SNB will continue to use intervention as the first line of defence against any unwarranted CHF strength and we expect EUR/CHF to be kept in range near term and project 1.08 in 1-3M”. “We expect SNB to stay put for the foreseeable future and still look for a gradual uptick in the cross to 1.11 in 6M and 1.15 in 12M”. For more information, read our latest forex news.