Chart EUR/CHF Update: Further gains to remain limited
The anticipated test above resistance at the 0.9490 Fibonacci retracement and congestion around 0.9500 has been pushed back from 0.9520~
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9600 | ** | congestion | S1 | 0.9400 | ** | congestion | |
| R3 | 0.9555 | ** | 61.8% ret of Jul-Aug fall | S2 | 0.9350 | * | congestion | |
| R2 | 0.9520~ | 12 Aug high | S3 | 0.9300 | congestion | |||
| R1 | 0.9490/00 | ** | 50% ret of Jul-Aug fall; congestion | S4 | 0.9250/54 | ** | figure; 29 Dec 2023 (y) low |
Asterix denotes strength of level
09:10 BST - The anticipated test above resistance at the 0.9490 Fibonacci retracement and congestion around 0.9500 has been pushed back from 0.9520~. as intraday studies turn down, with prices once again balanced beneath 0.9490/00. Daily readings continue to track higher, suggesting potential for a fresh test above here. But already overbought daily stochastics and negative weekly charts are expected to limit scope in fresh selling interest towards 0.9520~. An unexpected break above here would open up the 0.9555 retracement, where more significant reactions are looked for. Meanwhile, support remains at congestion around 0.9400. A close beneath here would turn sentiment neutral and prompt renewed consolidation above further congestion around 0.9350.