Chart EUR/CHF Update: Pressuring strong resistance - studies improving
The anticipated test of resistance at the 0.9267 monthly high of 31 March and the 0.9280 weekly high of 14 July is giving way to consolidation
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9330 | * | congestion highs | S1 | 0.9230 | congestion | ||
| R3 | 0.9300 | ** | congestion | S2 | 0.9200 | ** | break level | |
| R2 | 0.9280 | ** | 14 Jul (w) high | S3 | 0.9180 | ** | congestion | |
| R1 | 0.9267 | ** | 31 Mar (m) high | S4 | 0.9150 | ** | congestion |
Asterisk denotes strength of level
10:55 BST - The anticipated test of resistance at the 0.9267 monthly high of 31 March and the 0.9280 weekly high of 14 July is giving way to consolidation, as overbought intraday studies turn down. Daily readings have turned higher and broader weekly charts are also positive, highlighting room for further strength in the coming sessions. A close above 0.9280 would turn sentiment positive and confirm continuation of March gains, initially towards congestion around 0.9300. Meanwhile, support remains at congestion around 0.9230. A close beneath here, if seen, will open up 0.9200, where fresh consolidation is expected to appear.