EUR/CHF Remains Constructive Ahead of ECB Decision

The EUR/CHF currency pair is in a constructive but unconfirmed position ahead of the ECB's decision on September 10. The pair has been trading near 0.9410 since September 7, still capped by the 0.9438 high posted on September 2.

Two completed sessions have passed without resolving this rejection, and early Monday trade remains below the high. The broader bias remains constructive while 0.9368 to 0.9371 holds. A daily close above 0.9438 would confirm continuation, while a close below 0.9368 would reopen 0.9304.

The ECB's decision is expected to be a 25 basis point increase to 2.50%, with guidance likely carrying more weight than the rate move alone for EUR/CHF. The franc side has firmed independently, with the SNB leaving its policy rate at 0% on June 18 and restating its willingness to intervene against rapid franc appreciation.