Published: 2025-01-23T09:17:56.000Z
Chart EUR/CHF Update: Balanced trade - studies improving
Senior Technical Strategist
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Still little change, as prices extend consolidation beneath resistance at the 0.9450 break level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9555 | ** | 61.8% ret of Jul-Nov fall | S1 | 0.9400 | ** | congestion | |
| R3 | 0.9500 | ** | break level | S2 | 0.9350 | * | congestion | |
| R2 | 0.9485 | ** | 50% ret of Jul-Nov fall | S3 | 0.9300 | * | congestion | |
| R1 | 0.9450 | * | break level | S4 | 0.9253 | * | 6 Dec (w) low |
Asterisk denotes strength of level
09:10 GMT - Still little change, as prices extend consolidation beneath resistance at the 0.9450 break level. Intraday studies are mixed, highlighting room for further consolidation, before rising daily and weekly charts prompt a break. A close above 0.9450 will improve sentiment and open up the 0.9485 Fibonacci retracement. However, already overbought weekly stochastics could prompt renewed profit-taking/consolidation towards here. Meanwhile, a close below congestion support at 0.9400 would turn sentiment neutral and prompt consolidation above 0.9350.