The Euro remains stable against the Swiss Franc, with an eye on 0.9400

What a week the EUR/CHF pair is having! As a trader who has been following this market for years, I am quite frustrated to see how the euro is struggling to take off against the Swiss franc. The pair is now close to 0.9358 in the American session, just below the 100-day exponential moving average, and the truth is I have been watching this consolidation that seems to have no end for days.

The Swiss franc remains that damn safe haven that everyone looks for when the world goes crazy. And of course, with the current geopolitical tensions, who doesn't want some Swiss stability?

The momentum indicators are as indecisive as I am when trying to choose which pair to invest in. The RSI at 48... what a help! Neither bullish nor bearish, just there, floating as if nothing mattered. The MACD is barely above the signal line, and the histogram bars are shrinking. It's as if the market is telling us: "You want direction? Ha! Keep dreaming."

If we look down, we have immediate support near 0.9320, and then the lower limit of the current range at 0.9275. A break below could strengthen the CHF and expose the level 0.9200, although I wouldn't bet my money on that happening soon.

On the other hand, the initial resistance is at the 100-day EMA near 0.9373, followed by the weekly high at the psychological level of 0.9400. Personally, I believe this latter level is crucial - if we break it to the upside, we could see a trend change, but the Swiss franc seems determined not to give ground.

What really bothers me is that, despite the euro's attempts to recover, the appetite for the Swiss franc remains strong. Investors continue to see Switzerland as that oasis of stability while Europe struggles with its own economic issues.

For traders watching this pair, my advice would be not to rush. This range between 0.9275 and 0.9450 seems to be our home for now, and breaking it would require some significant catalyst. In the meantime, trading the extremes of the range could be the smartest strategy, although I am personally waiting for a clearer signal before committing.