Published: 2024-10-29T09:35:42.000Z
Chart EUR/CHF Update: Extending cautious trade
Senior Technical Strategist
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Little change, as prices extend cautious trade
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9515 | ** | 76.4% ret of Aug-Sep fall | S1 | 0.9350 | * | congestion | |
| R3 | 0.9500 | ** | congestion | S2 | 0.9327 | * | 24 Oct (w) low | |
| R2 | 0.9450 | break level | S3 | 0.9300/07 | * | congestion; 11 Sep (m) low | ||
| R1 | 0.9400 | ** | congestion | S4 | 0.9210 | ** | 5 August all-time low |
Asterisk denotes strength of level
09:20 BST - Little change, as prices extend cautious trade above congestion support at 0.9350. Daily readings are mixed/positive, suggesting potential for a test higher towards congestion resistance at 0.9400. But a close above here is needed to turn sentiment cautiously positive and extend gains towards 0.9450. Meanwhile, a close below 0.9350 would open up support down to 0.9300/07, where rising weekly charts should prompt renewed buying interest.