Of all the National Banks, analysts are expecting the SNB to be one of the first to cut, the CPI this week on Tuesday could indicate a cut is coming.
Looking at price action on this pair, we've broken out of the downward channel, albeit we've struggled ton break resistance, but equally we've retested the channel boundary multiple times and so far failed to break it, so this looks like we're in the region of a medium term reversal.
I'm looking for Buy entries on this pair, we need to break 0.58 to confirm the reversal, but I think there's longs to be had with LTF confirmations.