Published: 2025-08-01T08:33:18.000Z
Chart USD/CHF Update: Consolidating - studies continue to rise
Senior Technical Strategist
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Little change, as mixed intraday studies and overbought daily stochastics keep near-term sentiment cautious
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8240 | ** | 61.8% ret of May-Jul fall | S1 | 0.8100 | * | congestion | |
| R3 | 0.8200 | ** | congestion | S2 | 0.8065 | * | 17 Jul (w) high | |
| R2 | 0.8170 | * | 50% ret of May-Jul fall | S3 | 0.8000 | ** | congestion | |
| R1 | 0.8150 | 30 Jul high | S4 | 0.7900 | congestion |
Asterisk denotes strength of level
09:25 BST - Little change, as mixed intraday studies and overbought daily stochastics keep near-term sentiment cautious and prompt cautious trade beneath strong resistance at the 0.8170 Fibonacci retracement. However, the daily Tension Indicator continues to rise and broader weekly charts are positive, highlighting room for further strength in the coming sessions. A close above 0.8170 will improve sentiment and extend July gains towards congestion around 0.8200. Still higher is the 0.8240 retracement. Meanwhile, support remains at congestion around 0.8100 and should underpin any immediate setbacks.