Published: 2025-04-04T08:18:52.000Z
Chart USD/CHF Update: Extending January losses in CHF-driven trade
Senior Technical Strategist
1
Sharp losses are extending in CHF-driven trade
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8800 | ** | congestion | S1 | 0.8525~ | current YTD low | ||
| R3 | 0.8757 | ** | 10 Mar (m) low | S2 | 0.8500 | ** | congestion | |
| R2 | 0.8650 | ** | congestion | S3 | 0.8450 | * | congestion | |
| R1 | 0.8600 | * | congestion | S4 | 0.8400 | ** | congestion |
Asterisk denotes strength of level
09:05 BST - Sharp losses are extending in CHF-driven trade, with the break below the 0.8570 Fibonacci retracement adding weight to sentiment and posting a fresh 2025 year low around 0.8525. Focus is on congestion around 0.8500. But flat oversold intraday studies could limit any initial tests in consolidation, before negative daily readings prompt a break and open up further congestion around 0.8450. Meanwhile, resistance is lowered to congestion around 0.8600 and extends to 0.8650. A close above this range is needed to help stabilise price action and delay any immediate downside continuation.