Chart USD/CHF Update: Leaning lower
Little change, as prices extend choppy trade above congestion support at 0.8950
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9100 | ** | break level | S1 | 0.8950 | * | congestion | |
| R3 | 0.9050 | ** | 3 Jul (m) high, congestion | S2 | 0.8875 | * | break level | |
| R2 | 0.9025 | ** | 76.4% ret of May-Sep fall | S3 | 0.8800 | * | break level | |
| R1 | 0.9000 | ** | congestion | S4 | 0.8727 | ** | 6 Dec (w) low |
Asterisk denotes strength of level
09:05 GMT - Little change, as prices extend choppy trade above congestion support at 0.8950. Intraday studies are under pressure and overbought daily stochastics are unwinding, highlighting a deterioration in sentiment and room for a later break beneath here. Subsequent focus will then turn to the 0.8875 break level, but the rising daily Tension Indicator and mixed/positive weekly charts should prompt buying interest/consolidation above here. Meanwhile, resistance remains at congestion around 0.9000 and the 0.9025 Fibonacci retracement. A close above here, not yet seen, will turn price action positive and extend September gains beyond 0.9050.