EUR/CHF is at six year low levels

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The EUR/CHF currency exchange rate passed the 2016 and 2017 low level of 1.0625 at the end of October. In November, the pair extended its decline, as it reached below the 2020 low level at 1.0510. Meanwhile, it was spotted that since mid-September the Euro has been declining against the Swiss Franc in a channel down pattern.

If the pair continues to decline in the descending pattern, it can be expected that the EUR/CHF eventually would reach the 2015 low level at 1.0235. Note that it is not the absolute 2015 low level, as the EUR/CHF rate reached even lower levels during the announcement of the Swiss National Bank on January 15 2015 that the Swiss Franc would be no longer pegged to the value of the Euro.

However, a potential recovery of the EUR/CHF pair might find resistance in the 2020 low level at 1.0510 and the upper trend line of the channel down pattern.

Meanwhile, note the fundamental background of the rate. Namely, the European Central Bank continues its monetary stimulus, while the Swiss National Bank was recently revealed by Reuters to have ended its tapering program.
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