Published: 2025-06-24T08:34:12.000Z
Chart USD/CHF Update: Lower in range
Senior Technical Strategist
2
Cautious trade is giving way to a pullback in USD-driven trade
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8347 | 29 May (w) high | S1 | 0.8100 | congestion | |||
| R3 | 0.8300 | ** | congestion | S2 | 0.8038 | ** | 21 Apr YTD low | |
| R2 | 0.8250 | congestion | S3 | 0.8000 | ** | congestion | ||
| R1 | 0.8200 | * | congestion | S4 | 0.7850 | ** | 76.4% ret of 2011-2016 rally |
Asterisk denotes strength of level
09:20 BST - Cautious trade is giving way to a pullback in USD-driven trade, with prices currently consolidating the test of congestion support at 0.8100. Daily stochastics are turning down, away from overbought areas, and the flat daily Tension Indicator is under pressure, highlighting room for a later break towards critical support at the 0.8038 current year low of 21 April. Mixed/negative weekly charts could limit any initial tests in further consolidation, before bearish longer-term readings prompt a break. Meanwhile, resistance remains at congestion around 0.8200 and should cap any immediate tests higher.