Chart EUR/CHF Update: Smart bounce from historic low
The bounce from the 0.9180 historic low of 14 November is giving way to consolidation above the 0.9200 - 0.9212 support area
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9350 | ** | congestion | S1 | 0.9210/12 | ** | 11 Apr - 21 Oct YTD lows | |
| R3 | 0.9330 | congestion | S2 | 0.9200/02 | ** | figure; 18 Nov 2024 (y) low | ||
| R2 | 0.9300 | ** | congestion | S3 | 0.9180 | ** | 14 Nov historic low | |
| R1 | 0.9250 | break level | S4 | 0.9150 | figure |
Asterisk denotes strength of level
10:55 GMT - The bounce from the 0.9180 historic low of 14 November is giving way to consolidation above the 0.9200 - 0.9212 support area, with prices currently balanced around 0.9225. Intraday studies are rising and oversold daily stochastics are flattening, suggesting potential for continuation towards resistance at the 0.9250 break level. But the negative daily Tension Indicator and deteriorating weekly charts should limit any tests in renewed selling interest. Following cautious trade, fresh losses are looked for. A break below 0.9180 will add weight to sentiment and extend long-term losses to fresh historic lows.