Published: 2025-07-28T10:21:07.000Z
Chart EUR/CHF Update: Potential for a test above 0.9350
Senior Technical Strategist
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Consolidation around congestion resistance at 0.9350 has given way to a pullback
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9490/00 | ** | 61.8% ret; congestion | S1 | 0.9300 | ** | congestion | |
| R3 | 0.9435 | * | 50% ret of Mar-Apr fall | S2 | 0.9260 | break level | ||
| R2 | 0.9400 | * | congestion | S3 | 0.9212 | ** | 11 Apr YTD low | |
| R1 | 0.9350 | ** | congestion | S4 | 0.9200/02 | ** | figure; Nov 2024 (y) low |
Asterisk denotes strength of level
10:50 BST - Consolidation around congestion resistance at 0.9350 has given way to a pullback, as intraday studies turn down, with prices reaching 0.9315 before bouncing back to 0.9340. Overbought daily stochastics are flattening, suggesting potential for further consolidation beneath 0.9350. But the daily Tension Indicator continues to rise and negative weekly charts are flattening, suggesting potential for a later break above here towards further congestion around 0.9400. Any initial tests should give way to fresh consolidation. Meanwhile, support remains at 0.9300 and should underpin any immediate setbacks.