The EUR/CHF tends to be a descent “risk barometer”, and in the current macro environment, I really believe this to be true.
The CHF has been in demand as of late as investors have flocked to the Swiss Franc. The technicals also reflect that story as well.
The EUR/CHF is in a technical bearish wedge, but the dips below 0.9300 continue to find buyers. However, considering the lows are nearly the same, but there are lower highs, we are in what is called a bearish wedge.
It tends to tilt the risks towards a downside break. The trend line with the lower highs comes in at the 0.9600 level, and this would have to break to give the pair a bullish upside breakout.
As the pair continues to tighten in the apex of the wedge, we should soon find out if the EUR/CHF is a “good buy” or “goodbye!”
Which stock should you buy in your very next trade?
AI computing powers are changing the stock market. Investing.com's ProPicks AI includes 6 winning stock portfolios chosen by our advanced AI. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. Which stock will be the next to soar?
Unlock ProPicks AI