Published: 2025-07-01T08:37:09.000Z
Chart USD/CHF Update: Fresh year lows
Senior Technical Strategist
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No change to the bearish tone
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8250 | congestion | S1 | 0.7850 | ** | 76.4% ret of 2011-2016 rally | ||
| R3 | 0.8200 | * | congestion | S2 | 0.7800 | figure | ||
| R2 | 0.8100 | congestion | S3 | 0.7710 | ** | September 2011 low | ||
| R1 | 0.8000 | ** | congestion | S4 | 0.7600 | figure |
Asterisk denotes strength of level
09:25 BST - No change to the bearish tone, with prices once again posting a fresh year low, currently around 0.7900. Both daily and weekly charts continue to track lower, highlighting room for further losses, with next significant support at the 0.7850 multi-year Fibonacci retracement. Daily stochastics are flat in oversold areas, suggesting any initial tests could give way to consolidation, before December 2016 losses continue. Meanwhile, resistance remains at congestion around 0.8000. A close above here, if seen, would stabilise price action and prompt consolidation beneath further congestion around 0.8100.