Published: 2025-06-02T08:38:17.000Z
Chart USD/CHF Update: Under pressure
Senior Technical Strategist
1
Consolidation has given way to a break below 0.8200
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8480 | ** | 38.2% ret of Jan-Apr fall | S1 | 0.8100 | minor congestion | ||
| R3 | 0.8400 | * | congestion | S2 | 0.8038 | ** | 21 Apr YTD low | |
| R2 | 0.8300 | ** | congestion | S3 | 0.8000 | ** | figure | |
| R1 | 0.8200 | * | congestion | S4 | 0.7850 | ** | 76.4% ret of 2011-2016 rise |
Asterisk denotes strength of level
09:20 BST - Consolidation has given way to a break below 0.8200, as intraday studies turn down, with prices currently trading around 0.8180. Daily readings are under pressure and broader weekly charts are also leaning lower, suggesting room for further losses in the coming sessions towards 0.8100. Oversold daily stochastics could limit any initial tests in consolidation, before further selling pressure opens up critical support at the 0.8038 current year low of 21 April. Meanwhile, a close back above congestion resistance at 0.8200 will help to stabilise price action and prompt consolidation beneath 0.8300.