Published: 2026-05-12T08:13:11.000Z
Chart USD/CHF Update: Gains to remain limited
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Cautious trade is giving way to a drift higher
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.7950 | * | congestion | S1 | 0.7770 | ** | 61.8% ret of Jan-Mar rally | |
| R3 | 0.7900 | ** | congestion | S2 | 0.7750 | * | congestion | |
| R2 | 0.7850 | * | congestion | S3 | 0.7700/10 | ** | congestion; 76.4% ret | |
| R1 | 0.7800 | * | congestion | S4 | 0.7670 | * | congestion lows |
Asterisk denotes strength of level
09:10 BST - Cautious trade is giving way to a drift higher, with prices currently pressuring congestion resistance at 0.7800. Intraday studies are rising and bearish daily readings are flattening, suggesting room for a break above here towards congestion resistance at 0.7850. However, negative weekly charts should limit any initial tests in renewed consolidation. Meanwhile, support remains at the 0.7770 FIbonacci retracement and extends to congestion around 0.7750. This range should underpin any immediate setbacks. A close beneath here, however, will turn sentiment negative and extend late-March losses towards 0.7700/10.