Chart USD/CHF Update: Fresh year high, but approaching strong resistance
Anticipated gains have posted a fresh year high around 0.8385
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8450 | congestion | S1 | 0.8300 | congestion | |||
| R3 | 0.8400 | ** | 50% ret of 2025-2026 fall | S2 | 0.8250 | * | congestion | |
| R2 | 0.8385~ | fresh YTD high | S3 | 0.8200 | * | congestion | ||
| R1 | 0.8350 | * | late-May 25 (w) high | S4 | 0.8150 | congestion |
Asterisk denotes strength of level
09:50 BST - Anticipated gains have posted a fresh year high around 0.8385, before settling back as intraday studies turn down. Overbought daily stochastics are flattening, suggesting potential for a corrective pullback towards congestion support at 0.8300 in CHF-dominant trade. But the positive daily Tension Indicator and rising weekly charts should limit any deeper losses in renewed buying interest/consolidation above 0.8250.
Following cautious/corrective trade, fresh gains are looked for. A later break back above 0.8385 will extend January gains towards stronger resistance at the 0.8400 Fibonacci retracement. Already overstretched weekly readings could prompt profit-taking towards here and limit any initial tests in consolidation.