Published: 2025-03-31T08:25:35.000Z
Chart USD/CHF Update: Gains to remain limited
Senior Technical Strategist
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The overnight spike lower has bounced from 0.8775~
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9035 | ** | 28 Feb (w) high | S1 | 0.8800 | ** | congestion | |
| R3 | 0.9000 | ** | congestion | S2 | 0.8757 | ** | 10 Mar YTD low | |
| R2 | 0.8900 | ** | break level | S3 | 0.8727 | ** | 6 Dec (m) low | |
| R1 | 0.8850 | * | recent highs | S4 | 0.8690 | ** | 61.8% ret of Sep-Jan rally |
Asterisk denotes strength of level
09:15 BST - The overnight spike lower has bounced from 0.8775~, with prices once again trading above 0.8800. Immediate focus is on resistance at 0.8850, but daily studies are coming under pressure and broader weekly charts are bearish, suggesting difficulty sustaining any immediate tests. A close above here, however, would improve sentiment and extend March gains towards 0.8900. Following cautious trade, fresh losses are looked for. A close below the 0.8757 current year low of 10 March is needed to turn sentiment negative and confirm continuation of January losses.