Chart USD/CHF Update: Further consolidation above 2025 year low - studies under pressure
The break above 0.8200 has been pushed back from 0.8268
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8332 | ** | 28 Dec 2023 (y) low | S1 | 0.8098 | ** | 11 Apr YTD low | |
| R3 | 0.8300 | ** | cong, Jan 2015 (y) low | S2 | 0.8000 | ** | figure | |
| R2 | 0.8268 | 14 Apr high | S3 | 0.7850 | ** | 76.4% ret of 2011-2016 rally | ||
| R1 | 0.8200 | minor congestion | S4 | 0.7710~ | ** | September 2011 (m) low |
Asterisk denotes strength of level
09:15 BST - The break above 0.8200 has been pushed back from 0.8268, with prices currently balanced in fresh consolidation beneath 0.8200. Intraday studies are rising, suggesting potential for a retest of 0.8200. But negative daily and weekly charts should limit any fresh break in renewed selling interest beneath the 0.8268 high of 14 April. In the coming sessions, cautious trade is expected to give way to further losses. Support is at the 0.8098 current year low of 11 April. A close beneath here will add weight to sentiment and open up historic congestion around 0.8000. Further selling pressure will extend multi-year losses towards the 0.7850 Fibonacci retracement.