EURCHF – bears consolidate above fresh 11-year low, pivotal 0.90 support under pressure

EURCHF is consolidating just below the fresh multi-year low at 0.9094, the weakest level since January 2015, when the Swiss National Bank scrapped its 1.20 CHF per euro floor. The low was recorded on Tuesday and keeps the broader bearish structure intact.

The Swiss franc continues to draw support from sustained safe-haven demand, advancing steadily against its major counterparts and maintaining pressure on the cross.

Attention now turns to the pivotal 0.9000 zone, which represents both a psychological threshold and the January 2015 spike low. Given the prevailing environment, this support could come under renewed pressure in the near term.

Tuesday’s Doji candle with a long lower shadow signals emerging bids, suggesting the potential for consolidation or a limited corrective bounce, particularly as daily indicators appear overstretched. However, the broader technical picture remains decisively bearish, and any pause is likely to serve as positioning for another leg lower.

On the upside, the falling 10-day moving average at 0.9152 provides initial resistance, followed by the more significant 0.9200 area, which aligns with the 38.2% Fibonacci retracement of the 0.9289–0.9094 decline and the descending 20-day moving average. These levels are expected to cap corrective attempts.

Res: 0.9094; 0.9152; 0.9200; 0.9222
Sup: 0.9116; 0.9094; 0.9050; 0.9000