Published: 2024-11-07T09:30:12.000Z
Chart EUR/CHF Update: Consolidating
Senior Technical Strategist
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Little change, as prices extend consolidation above 0.9400
| 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
09:20 GMT - Little change, as prices extend consolidation above 0.9400. Intraday studies have ticked higher, highlighting potential for a test of strong resistance at 0.9445/50. But mixed daily readings are expected to limit any initial tests in fresh consolidation. A close above here, however, would turn price action cautiously positive and open up stronger resistance at congestion around 0.9500 and the 0.9515 Fibonacci retracement. Meanwhile, any renewed tests below congestion support at 0.9400 should be limited in fresh consolidation above 0.9350.