Chart EUR/CHF Update: Lower in CHF-driven trade
Cautious trade has given way to a sharp fall in CHF-driven trade
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9455 | * | August 2025 (m) high, cong | S1 | 0.9300 | ** | congestion | |
| R3 | 0.9410~ | 14 Aug YTD high | S2 | 0.9290 | * | 38.2% ret of May-Aug rally | ||
| R2 | 0.9375 | congestion | S3 | 0.9250/55 | ** | congestion; 50% ret | ||
| R1 | 0.9350 | * | break level | S4 | 0.9220 | ** | 61.8% ret of May-Aug rally |
Asterisk denotes strength of level
10:45 BST - Cautious trade has given way to a sharp fall in CHF-driven trade, with the break below 0.9350 adding weight to sentiment and giving way to choppy trade above congestion support at 0.9300. Intraday studies are under pressure and daily readings have turned bearish, highlighting room for continuation towards support at the 0.9290 Fibonacci retracement and congestion around 0.9300. However, broader weekly charts are also bearish, pointing to a later break and continuation of mid-August losses towards 0.9250/55.
Meanwihle, resistance is lowered to 0.9350. A close above here, if seen, will help to stabilise price action and give way to consolidation beneath congestion around 0.9375.