Chart USD/CHF Update: Consolidating gains - daily studies rising
Anticipated gains are giving way to consolidation beneath resistance at 0.8350
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8500 | ** | congestion | S1 | 0.8300 | * | congestion lows | |
| R3 | 0.8475~ | ** | 12 May 2025 (m) high | S2 | 0.8250 | congestion | ||
| R2 | 0.8395/00 | ** | 14 Oct YTD high; 50% ret | S3 | 0.8200 | * | congestion | |
| R1 | 0.8350 | * | break level | S4 | 0.8150 | congestion |
Asterisk denotes strength of level
09:15 GMT - Anticipated gains are giving way to consolidation beneath resistance at 0.8350, as intraday studies turn down, with prices currently balanced around 0.8320. Daily readings continue to rise, highlighting room for continuation towards 0.8350. But mixed/negative weekly charts should limit any initial break in consolidation beneath critical resistance at the 0.8395 current year high of 14 October and the 0.8400 multi-month Fibonacci retracement.
Meanwhile, support is raised to congestion around 0.8300. A close beneath here, if seen, will help to stabilise price action and give way to consolidation above further congestion around 0.8250.