Chart USD/CHF Update: Limited tests higher
Consolidation following the break above 0.8100 is giving way to a drift higher
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8250 | congestion | S1 | 0.8100 | * | congestion | ||
| R3 | 0.8220 | ** | 38.2% ret of 2025-2026 fall | S2 | 0.8050 | break level | ||
| R2 | 0.8200 | * | congestion | S3 | 0.8035 | * | 38.2% ret of May-Jul rally | |
| R1 | 0.8150 | congestion | S4 | 0.8000/10 | ** | congestion; 2 Jul (w) low |
Asterisk denotes strength of level
09:15 BST - Consolidation following the break above 0.8100 is giving way to a drift higher, as intraday studies rise, with prices currently trading around 0.8125. Daily readings continue to improve, highlighting room for continuation towards congestion resistance at 0.8150. But bearish weekly charts should limit any tests in renewed selling interest/consolidation. Following cautious/corrective trade, fresh losses are looked for. A close back below 0.8100 will put prices in fresh consolidation above 0.8050. However, a close below the 0.8035 Fibonacci retracement will add weight to sentiment and extend late-July losses below 0.8000/10 towards the 0.7985 retracement.