Le Franc suisse (CHF) est trop cher sur le FX ! | Fast & Forex | Swissquote

Introduction

This tutorial aims to explore the current status of the Swiss Franc (CHF) in the foreign exchange (FX) market as discussed in the Swissquote video. Despite the Swiss National Bank (SNB) maintaining a zero interest rate, the CHF has emerged as a strong currency in 2025. We will analyze the reasons behind this phenomenon, the technical analysis of the CHF's future, and its correlations with other currencies and gold.

Step 1: Understand the Current Position of the CHF

• The CHF is currently leading the FX market in 2025.
• Despite having the lowest interest rate among major central banks, the CHF remains strong.
• Analyze the paradox of the CHF’s strength despite unfavorable interest rate spreads.

Step 2: Analyze the Factors Contributing to CHF Strength

• The strength of the CHF is not primarily due to monetary factors.
• Consider the following sources of strength:
  • Economic stability in Switzerland.
  • Safe-haven status during global economic uncertainties.
  • Increased demand from international investors.

Step 3: Explore Technical Analysis of the CHF

• Technical analysis suggests potential bearish trends for the CHF in the coming months.
• Key currency pairs to monitor:
  • SXY (Swiss Franc Index)
  • USD/CHF
  • EUR/CHF
• Use charting tools to analyze price movements and patterns.

Step 4: Examine the Correlation Between EUR/USD and EUR/CHF

• Investigate the relationship between EUR/USD and EUR/CHF.
• Recent trends suggest a potential end to their positive correlation.
• Understanding these correlations can assist in making informed trading decisions.

Step 5: Analyze the Relationship Between CHF and Gold

• The CHF often correlates strongly with gold, especially in times of market stress.
• Monitor gold prices as they can influence CHF movements.
• Consider the CHF as a safe-haven asset alongside gold.

Step 6: Stay Informed on Institutional Trading Positions

• Be aware that institutional traders are currently "short" on the CHF.
• This information can provide insight into market sentiment and future trends.
• Follow institutional trading reports for the latest updates.

Conclusion

In summary, the Swiss Franc is currently a leader in the FX market despite a zero interest rate. Understanding the various factors contributing to its strength, along with technical analysis and correlations with other currencies and gold, can provide valuable insights for traders. Stay updated on institutional positions and economic indicators as you navigate the FX market. Consider leveraging Swissquote’s education resources for further learning on trading fundamentals.