Published: 2025-06-24T10:38:20.000Z
Chart EUR/CHF Update: Choppy trade - background studies rising
Senior Technical Strategist
1
The break below 0.9400 has bounced from 0.9375
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9555 | ** | 76.4% ret of Mar-Apr fall | S1 | 0.9350 | ** | congestion | |
| R3 | 0.9490/00 | ** | 61.8% ret; congestion | S2 | 0.9300 | ** | congestion | |
| R2 | 0.9435 | * | 50% ret of Mar-Apr fall | S3 | 0.9260 | break level | ||
| R1 | 0.9400 | * | congestion | S4 | 0.9212 | ** | 11 Apr YTD low |
Asterisk denotes strength of level
11:00 BST - The break below 0.9400 has bounced from 0.9375, with prices reaching 0.9425 before settling lower once again to trade around 0.9400. Intraday studies are leaning lower, suggesting room for a test back beneath here. But mixed daily readings and rising weekly charts are expected to limit scope in renewed buying interest above congestion support at 0.9350. Following cautious trade, higher levels are looked for. But a close above the 0.9435 Fibonacci retracement is needed to turn sentiment positive and extend April gains towards 0.9490/00.