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EUR/CHF holds firm above 0.9400, stabilizing after a rebound from the multi-month range support near 0.9300.
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The Swiss Franc stays weak after US President Donald Trump announced a 39% tariff on Swiss imports.
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The pair faces strong resistance at 0.9430, the top of the horizontal range that has constrained price action since late April.
The EUR/CHF pair is trading flat around 0.9420 on Wednesday but remains resilient above the 0.9400 mark, consolidating recent gains after a solid rebound from the lower boundary of its multi-month range near 0.9300. The recent upward momentum has been supported by weakness in the Swiss Franc (CHF), which came under pressure after US President Donald Trump imposed a 39% tariff on Swiss imports—raising concerns over Switzerland’s trade outlook and diminishing safe-haven demand for the Franc.
Currently, the pair is showing little change during the American session, but the technical setup continues to lean bullish. EUR/CHF is holding above the 100-day Simple Moving Average (SMA), located near 0.9360, which has acted as reliable support during recent pullbacks. The pair remains within a horizontal range of 0.9300–0.9430 established since mid-May. However, with prices pressing against the range ceiling, a potential breakout above the 0.9430 resistance level could confirm renewed bullish momentum.
Technical indicators point to strengthening upside potential. The Relative Strength Index (RSI) is hovering near 62, signaling building bullish momentum without breaching overbought conditions. Meanwhile, the MACD indicator continues to trend in positive territory, with the MACD line staying above the signal line after a bullish crossover earlier this month. That said, the MACD histogram has started to narrow slightly, suggesting some softening in buying momentum as the pair tests resistance.
A decisive daily close above the 0.9430 mark would open the door for further gains toward 0.9500, the high from April 7, with the next target at 0.9582—the peak from April 3. On the downside, initial support is at 0.9400, followed by the 100-day SMA at 0.9360. A drop below this level would likely expose the 0.9300 support zone at the bottom of the established range.
