FOREX Chart Of The Day: EURCHF Hits Parity

The EURCHF price has tested parity recently which could offer opportunities if the Swiss National Bank intervenes.

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EURCHF Analysis

The EURCHF price could be one to watch this week as the price has tested parity for the first time since 2015. The Euro has been one of the worst affected currencies during this conflict between Ukraine and Russia with investors looking to haven currencies such as the Swiss Franc. The Swiss Franc has low inflation rates currently making it an attractive currency for investors. 

The 4hr time chart on the left hand side shows the price dropping below the parity level where buyers came and stepped in. This could have been due to the Swiss National Bank who released a statement to say they will intervene if they need to. This could lead to long opportunities if the price can form a higher low or a double bottom. If price does retest the parity level or the previous lows we can look for bullish 4hr price action or a 15 minute change of trend.

Have you seen our week ahead analysis yet? you can watch it here.

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About The Author

Jonathan Kibbler

Jon Kibbler, our Senior Market Analyst, boasts over a decade of trading experience. He specializes in dissecting the intricacies of financial markets and sharing his expertise with precision. Jon’s insights have been featured at renowned events and platforms like Coindex, Forex Analytix, and Forex.com.

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