Chartbook: Chart USD/CHF: Room for corrective gains in the coming weeks

Anticipated losses have extended the January 2025 bear trend to post a fresh 2026 year low at 0.7600.

Subsequent consolidation above here has given way to a bounce, as weekly stochastics rise and the weekly Tension Indicator improves, with prices currently trading around 0.7875.

In the coming weeks, further gains are looked for, with multi-month congestion within the broad 0.8000 - 0.8100 range to attract.

A close above here will open up the 0.8220 multi-month Fibonacci retracement. But by-then overbought weekly stochastics could limit any initial tests in profit-taking/consolidation.

Meanwhile, support is at the 0.7600 current year low of 28 January.

A tick higher in oversold monthly stochastics and the flattening negative monthly Tension Indicator should limit any immediate pullback in consolidation above here.

But from a broader multi-month perspective, the current choppy bounce is viewed as corrective, as multi-month stochastics and the multi-month Tension Indicator continue to fall.

A later break below 0.7600 will confirm continuation of December 2016 losses and open up critical support at the 0.7065 year low of August 2011.