Published: 2024-11-06T10:02:26.000Z
Chart EUR/CHF Update: Choppy in range
Senior Technical Strategist
3
The anticipated test of congestion support at 0.9350 has given way to a sharp bounce in heightened volatility
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9581 | ** | 15 Aug (m) high | S1 | 0.9400 | ** | congestion | |
| R3 | 0.9515 | ** | 76.4% ret of Aug-Sep fall | S2 | 0.9350 | * | congestion | |
| R2 | 0.9500 | ** | congestion | S3 | 0.9327 | * | 24 Oct (w) low | |
| R1 | 0.9445/50 | * | 1 Nov (w) high; break level | S4 | 0.9300/07 | * | congestion; 11 Sep (m) low |
Asterisk denotes strength of level
09:45 GMT - The anticipated test of congestion support at 0.9350 has given way to a sharp bounce in heightened volatility, with prices currently trading back above 0.9400. Intraday studies are under pressure and daily readings are turning down, suggesting any further strength could meet renewed selling interest towards strong resistance at 0.9445/50. In the coming sessions, a fresh test below 0.9400 is highlighted. But rising weekly charts should prompt renewed buying interest towards 0.9350.