Published: 2024-11-01T10:00:03.000Z
Chart EUR/CHF Update: Focus remains on 0.9450
Senior Technical Strategist
3
Anticipated gains have met selling interest just beneath resistance at the 0.9450 break level
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 0.9581 | ** | 15 Aug (m) high | S1 | 0.9400 | ** | congestion | |
R3 | 0.9515 | ** | 76.4% ret of Aug-Sep fall | S2 | 0.9350 | * | congestion | |
R2 | 0.9500 | ** | congestion | S3 | 0.9327 | * | 24 Oct (w) low | |
R1 | 0.9450 | break level | S4 | 0.9300/07 | * | congestion; 11 Sep (m) low |
Asterisk denotes strength of level
09:50 GMT - Anticipated gains have met selling interest just beneath resistance at the 0.9450 break level, with prices currently trading around 0.9425. Intraday studies are rising and daily readings are also positive, highlighting potential for a fresh move towards here. However, already overbought daily stochastics are expected to limit any initial break in consolidation beneath strong resistance at 0.9500/15. Meanwhile, a break back below congestion support at 0.9400 will open up further congestion around 0.9350, where improving weekly charts should prompt renewed buying interest/consolidation.