EURCHF trades to highest level since July 2024.

The EUR is the strongest currency vs all the major currencies today as the EU starts to stand on its own feet for defense. That increased spending has goosed the stocks higher. Yields also moved higher with the 10 year yields in German rising 27.9 basis points.

Looking at the EUR forex complex,

• EURUSD is up 1.50% today.
• EURGBP is up 0.87%
• EURJPY is up 0.745%.

Leading the way is the EURCHF which is up 1.61%. That is the largest 1-day gain going back to 2015.

Looking at the 4 hour chart, the price rise in EURCHF has seen the price extend above its 200 day MA at 0.94579, and the 38.2% at 0.94803. The highs from 2025 were next breached near 09516 and then the 50% of the move down from the May 2024 high at 0.9566.

One-by-one levels were broken..

The price is currently extending above the July 29 high at 0.9605 and looks toward the 61.8% retracement of the same move down from the May 2024 high at 0.96526.

Going forward, they would likely take a move below the 50% midpoint of 0.95664 to disappointed the buyers (or least lead to more downside probing once again). Until then the buyers remain in control.

This article was written by Greg Michalowski at www.forexlive.com.