EUR/CHF drops to lowest level in two years, test 1.1000

  • Lower interest rates across the globe continue to support the Swiss franc. 
  • EUR/CHF hit levels under 1.1000 for the first time since July 2017. 

The EUR/CHF pair is falling on Monday for the third-day in-a-row as the Swiss franc remains the top perform among European currencies. Ir recently bottomed at 1.0998, the lowest in two years. 

From the lows, it bounced to the upside, and it was trading at 1.1005/10, down for the day but back above the 1.1000 area.  A consolidation below 1.1000 appears to be needed in order to clear the way to more losses. On the upside, the 1.1050/55 zone has become a key resistance

From a fundamental perspective, the Swiss franc continues to be supported by expectations of monetary policy easing. On Thursday, the European Central Bank announces its policy decision. It is widely expected to keep interest rates on hold. Some are expecting a change in the forward guidance to hint at a rate cut. Next week, the Fed is seen cutting rates by 25 bp. 

Technical outlook 

“EUR/CHF has eroded the 1.1057 June low and has dropped into 23 month lows. We note the 13 count on the daily and that the weekly RSI has not confirmed the new low, but we maintain a negative bias while it remains capped by the current July high at 1.1172, which remains key”, said Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank. 

They are looking for ongoing losses to the 1.10 psychological support. “Failure at 1.1000 will target the 1.0666/23 longer term, this is the 38.2% retracement (of the move from 2015-2018) and the June 2016 low.”


Today last price 1.101
Today Daily Change -0.0006
Today Daily Change % -0.05
Today daily open 1.1016
Daily SMA20 1.1106
Daily SMA50 1.1172
Daily SMA100 1.125
Daily SMA200 1.1296
Previous Daily High 1.1084
Previous Daily Low 1.1012
Previous Weekly High 1.1111
Previous Weekly Low 1.1012
Previous Monthly High 1.1265
Previous Monthly Low 1.1056
Daily Fibonacci 38.2% 1.1039
Daily Fibonacci 61.8% 1.1056
Daily Pivot Point S1 1.099
Daily Pivot Point S2 1.0965
Daily Pivot Point S3 1.0918
Daily Pivot Point R1 1.1062
Daily Pivot Point R2 1.1109
Daily Pivot Point R3 1.1134




Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD accelerates decline and nears 1.1200

The US Nonfarm Payroll report’s effects are long gone. The greenback gets attention as stocks eased sharply from intraday highs, still holding in the green, yet undermined by record coronavirus cases in the US.


AUD/USD hovering around 0.6920 after a dull day

AUD/USD pair seesawed between gains and losses, settling for a second consecutive day at around 0.6920. Australian PMIs and Chinese services output coming up next.


XAU/USD strengthens and rebounds from weekly lows toward $1780

Gold is trading at daily highs, near $1780 after rising $20 from the daily low. The metal dropped to $1757 after the release of the US employment report and then bounce sharply to the upside.

Gold News

Crypto collapse with Bitcoin falling below $9,000 and Ethereum getting close to $220

Most cryptocurrencies are experiencing a significant sell-off after Bitcoin fell below $9,000. BNB/USD has suffered the most with a 4% drop towards $15 and needs to hold $14.8 support. 

Read more

Oil: $40 per barrel has been broken again but there is a lack of conviction at these current levels

WTI has continued to move higher on Thursday but the price action seems pretty lacklustre despite volatility elsewhere. There have been some decent news stories in the past few sessions as it was confirmed OPEC output reached a two-decade low after over compliance from Saudi Arabia. 

Oil News