Published: 2026-06-01T08:46:58.000Z
Chart USD/CHF Update: Consolidating - studies under pressure
1
The anticipated test of congestion support at 0.7800 has giving way to a bounce
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.7950 | * | congestion | S1 | 0.7800 | * | congestion | |
| R3 | 0.7925 | ** | 29 Apr (w) high | S2 | 0.7770 | ** | 61.8% ret of Jan-Mar rally | |
| R2 | 0.7900 | ** | congestion | S3 | 0.7750 | * | congestion | |
| R1 | 0.7850 | * | congestion | S4 | 0.7700/10 | ** | congestion; 76.4% ret |
Asterisk denotes strength of level
09:40 BST - The anticipated test of congestion support at 0.7800 has giving way to a bounce, as intraday studies turn higher, with prices currently trading around 0.7830. Focus is on congestion resistance at 0.7850. But negative daily readings and deteriorating weekly charts should limit any tests in renewed selling interest/consolidation. Following cautious trade, fresh losses are looked for. However, a close below the 0.7770 Fibonacci retracement is needed to turn sentiment negative and extend late-March losses towards 0.7700/10. Meanwhile, a close above 0.7850, if seen, should be limited in consolidation beneath 0.7900.