Chart EUR/CHF Update: Room for higher
Little change, as mixed intraday studies prompt consolidation within resistance at the 0.9635 Fibonacci retracement and the 0.9650 break level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9750 | congestion | S1 | 0.9600 | ** | congestion | ||
| R3 | 0.9700 | ** | congestion | S2 | 0.9500 | ** | break level | |
| R2 | 0.9650 | * | break level | S3 | 0.9450 | * | break level | |
| R1 | 0.9635 | ** | 76.4% ret of Jul-Nov fall | S4 | 0.9400 | ** | congestion |
Asterisk denotes strength of level
09:15 GMT - Little change, as mixed intraday studies prompt consolidation within resistance at the 0.9635 Fibonacci retracement and the 0.9650 break level. Daily readings are positive and broader weekly charts are also rising, highlighting room for further strength in the coming sessions. However, a close above the 0.9635/50 range is needed to turn sentiment positive and extend November gains towards congestion around 0.9700. Meanwhile, support is raised to congestion around 0.9600. A close beneath here, if seen, would add weight to sentiment and prompt a corrective pullback towards 0.9500.