Swiss National Bank Chairman Thomas Jordan is crossing the wires and has stated the following:

Key comments

• Price stability does not happen automatically.
• We are seeing no wage-price spiral in Switzerland.
• Inflationary pressure stronger than SNB can tolerate, can't exclude more interest-rate increases.
• A strong swiss job market could affect a firm's cost inflation.
• In 2022 second-round effects rose, and inflation spread.
• Ready to be active in currency markets when necessary. 

USD/CHF technical analysis

On the following daily chart,m we can see that the price is moving lower with a descending channel: 

Zoomed in ... 

The M-formation is pulling the bulls in from support with a focus on the 50% mean reversion target as the top of the channel resistance and neckline of the pattern near 0.9170.