Published: 2025-07-24T08:36:26.000Z
Chart USD/CHF Update: Consolidating - studies under pressure
Senior Technical Strategist
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Little change, as prices extend cautious trade above congestion support at 0.7900
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8170 | * | 50% ret of May-Jul fall | S1 | 0.7900 | congestion | ||
| R3 | 0.8100 | * | cong, 38.2% ret | S2 | 0.7870~ | ** | 1 Jul YTD low | |
| R2 | 0.8000 | ** | congestion | S3 | 0.7850 | ** | 76.4% ret of 2011-2016 rally | |
| R1 | 0.7950 | minor congestion | S4 | 0.7800 | congestion |
Asterisk denotes strength of level
09:25 BST - Little change, as prices extend cautious trade above congestion support at 0.7900. Intraday studies are rising, suggesting room for a test of resistance at 0.7950. But negative daily readings are expected to limit any break in renewed selling interest beneath congestion around 0.8000. Following cautious trade, fresh losses are looked for. A later break below 0.7900 will add weight to sentiment and extend broad 2016 losses towards the 0.7850 Fibonacci retracement.