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EURCHF climbs to highest level in nearly seven months
The Swiss franc stays under pressure as low-rate expectations tied to the SNB, possibly holding zero rates until end-2027, support the EURCHF uptrend.
EURCHF pushed to a new high for nearly seven months, extending an uptrend after accelerating higher over the past two sessions. The move reflects continued pressure on the Swiss franc, which Action Forex links to the backdrop of low interest rates and market rumors that the Swiss National Bank may keep rates at zero until the end of 2027. Traders also drove the pair higher after it broke above the 50% retracement level of the 0.9661 to 0.8978 downtrend, holding in green for a fourth consecutive week and putting EURCHF on track for a second monthly gain. Technical measures remain constructive on the daily chart, but Action Forex notes that overbought stochastic and momentum indicators have shifted to sideways, hinting at possible consolidation before a renewed push toward the 0.9400 area. The publication also points to prior tops near 0.9270 to 0.9280 as a reference zone for dips, and support around 0.9244 and 0.9244/38 (including the 20DMA and the broken 38.2% fib level).