EURCHF Surges Higher as SNB Rumors Fuel Bearish Outlook for Swiss Franc
The EURCHF currency pair continues to trend higher as the Swiss Franc remains under pressure due to low interest rates. According to recent rumors, the SNB may hold zero rates until the end of 2027, further adding to the negative outlook for the currency.
Bulls have broken above the 50% retracement of the 0.9661/0.8978 downtrend and are holding in green for the fourth consecutive week. This is on track for the second monthly gain, with a reversal pattern developing on the monthly chart indicating that the recovery from the new multi-year low of 0.8977 is gaining traction.
The daily studies remain in full bullish setup, but overbought stochastic and momentum indicators have turned to sideways mode, suggesting that bulls may take a breather for consolidation before resuming towards the 0.9400 zone (Fibo 61.8% / top of weekly Ichimoku cloud).