Published: 2025-03-17T09:28:43.000Z
Chart EUR/CHF Update: Consolidating - background studies rising
Senior Technical Strategist
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The test of resistance at 0.9635/50 has not been sustained
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9750 | * | break level | S1 | 0.9600 | ** | congestion | |
| R3 | 0.9700 | ** | congestion | S2 | 0.9550 | congestion | ||
| R2 | 0.9650 | * | break level | S3 | 0.9500 | ** | break level | |
| R1 | 0.9635 | ** | 76.4% ret of Jul-Nov fall | S4 | 0.9450 | * | break level |
Asterisk denotes strength of level
09:20 GMT - The test of resistance at 0.9635/50 has not been sustained, as intraday studies turn down, with cautious trade drifting lower towards congestion support at 0.9600. A break will open up congestion support at 0.9550, but mixed daily readings and positive weekly charts are expected to limit any tests in renewed consolidation. Following cautious trade, fresh gains are looked for. But a close above the 0.9635 Fibonacci retracement is needed to turn sentiment positive and confirm continuation of November gains.