Chart EUR/CHF Update: Choppy trade - daily studies rising
Choppy trade has bounced from congestion support at 0.9300 to reach 0.9320, where mixed intraday studies are prompting fresh consolidation
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9400 | ** | congestion | S1 | 0.9300 | ** | congestion | |
| R3 | 0.9373 | * | 1 Oct (w) high | S2 | 0.9250 | break level | ||
| R2 | 0.9350 | ** | congestion | S3 | 0.9210/12 | ** | 11 Apr - 21 Oct YTD lows | |
| R1 | 0.9330 | congestion | S4 | 0.9200/02 | ** | figure; 18 Nov (y) low |
Asterisk denotes strength of level
10:40 GMT - Choppy trade has bounced from congestion support at 0.9300 to reach 0.9320, where mixed intraday studies are prompting fresh consolidation. The rising daily Tension Indicator highlights room for continuation beyond congestion resistance at 0.9330 towards further congestion around 0.9350. But flat overbought daily stochastics are expected to limit any initial tests in consolidation. Meanwhile, support remains at congestion around 0.9300. A close beneath here, if seen, would turn sentiment neutral and give way to consolidation above support at the 0.9250 break level.