EUR/CHF is stabilizing around 0.92 after dipping below this level last month. This change follows the US/Swiss trade deal and may involve intervention from the Swiss National Bank. Although Switzerland’s high tariffs affect its economy, the country remains attractive as a safe haven due to its strong productivity and healthy current account. Strength in the Swiss economy supports the stability of EUR/CHF. Analysts expect the currency pair to stay between 0.92 and 0.93. Even with global uncertainties, including US trade policies, Switzerland’s reputation as a safe haven remains strong. Analysts have adjusted the 3-month forecast for the currency pair from 0.93 to 0.92, indicating expected stability within this range.

Stabilization of EUR/CHF

After falling below 0.92 last month due to news about the US/Swiss trade deal, EUR/CHF has now stabilized. Experts believe the pair will stay in a narrow range of 0.92 to 0.93 over the coming months, thanks to Switzerland’s strong economic fundamentals. With limited price fluctuations anticipated, selling volatility might be a good strategy. The three-month implied volatility for EUR/CHF has recently dropped to just 4.1%, marking a multi-year low not seen since before the 2024 global trade shifts. This situation favors strategies like short strangles or iron condors, setting strikes outside the expected price range. The franc’s strength is backed by solid economic fundamentals, enhancing its safe-haven status. Recent data from Q3 2025 shows Switzerland’s current account surplus grew to 9.8% of GDP, which provides a strong buffer against ongoing trade tariffs. This resilience helps stabilize the franc and sets a natural limit to how high EUR/CHF can rise without central bank intervention.

Potential Swiss National Bank Intervention

It’s important to watch for potential Swiss National Bank (SNB) intervention, especially if EUR/CHF tests the 0.92 level again. The slight increase in foreign currency reserves reported for November 2025 suggests that the SNB may be trying to reduce downside volatility without establishing a hard limit. This suggests a bounded trading range rather than a significant breakout. Despite the current calm, we must remember that the SNB has the ability to make sudden policy changes. The unpegging incident of January 2015 reminds us how quickly a stable market can be disrupted by central bank actions. Therefore, any volatility-selling strategies should be managed with clear risk guidelines. Create your live VT Markets account and start trading now.

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