Chart EUR/CHF Update: Consolidating - studies improving
Little change, as prices extend consolidation within the 0.9200 - 0.9230 range
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9300 | ** | congestion | S1 | 0.9200 | ** | break level | |
| R3 | 0.9267 | ** | 31 Mar (m) high | S2 | 0.9180 | ** | congestion | |
| R2 | 0.9250 | ** | congestion | S3 | 0.9150 | ** | congestion | |
| R1 | 0.9230 | congestion | S4 | 0.9120 | intraday break level |
Asterisk denotes strength of level
10:20 BST - Little change, as prices extend consolidation within the 0.9200 - 0.9230 range. Intraday studies have turned higher once again and overbought daily stochastics are ticking up, suggesting room for a test above congestion resistance at 0.9230. However, the rising daily Tension Indicator is showing early signs of flattening, suggesting any immediate tests could give way to consolidation, before positive weekly charts prompt further gains. A close above the 0.9267 monthly high of 31 March would turn sentiment positive and confirm continuation of early-March gains. Meanwhile, any tests below support at 0.9200 should meet buying interest above congestion around 0.9180.