Chart EUR/CHF Update: Leaning lower
The pullback from the 0.9475 current year high of 14 September is giving way to consolidation above 0.9425
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9550 | * | congestion | S1 | 0.9400 | * | congestion | |
| R3 | 0.9500 | * | congestion | S2 | 0.9375 | congestion | ||
| R2 | 0.9475 | * | 14 Sep YTD high | S3 | 0.9350 | * | break level | |
| R1 | 0.9455 | * | 50% ret of 2024-2026 fall | S4 | 0.9300/07 | ** | cong; 19-20 Aug (w) low |
Asterisk denotes strength of level
10:40 BST - The pullback from the 0.9475 current year high of 14 September is giving way to consolidation above 0.9425. Intraday studies are under pressure and daily readings are deteriorating, highlighting room for further losses in the coming sessions. A break below 0.9425 will open up congestion support at 0.9400. Beneath here is further congestion around 0.9375. But mixed/positive weekly charts should limit any tests of this range in consolidation.
Following cautious/corrective trade, fresh gains are looked for. However, a close above 0.9455/75 is needed to turn sentiment positive and extend gains from the 0.8980 current year low of 9 March towards congestion around 0.9500.