Published: 2025-05-13T08:30:44.000Z
Chart EUR/CHF Update: Cautious trade
Senior Technical Strategist
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Cautious trade is giving way to a sharp pullback
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9490/00 | ** | 61.8% ret; congestion | S1 | 0.9300 | ** | congestion | |
| R3 | 0.9435 | * | 50% ret of Mar-Apr fall | S2 | 0.9260 | break level | ||
| R2 | 0.9400 | * | congestion | S3 | 0.9212 | ** | 11 Apr YTD low | |
| R1 | 0.9350 | ** | congestion | S4 | 0.9200/02 | ** | figure; 22 Nov 2024 all-time low |
Asterisk denotes strength of level
09:20 BST - Cautious trade is giving way to a sharp pullback, as overbought intraday studies unwind, with the break below 0.9350 currently trading around 0.9335. Continuation down to congestion support at 0.9300 is highlighted. But mixed/positive daily readings and mixed weekly charts are expected to limit any initial tests in fresh consolidation. Meanwhile, resistance remains up to congestion around 0.9400 and should continue to cap any immediate tests higher.