Published: 2024-09-09T08:23:52.000Z
Chart EUR/CHF Update: Consolidating - background remains under pressure
Senior Technical Strategist
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The anticipated break below 0.9350 is meeting support around 0.9335
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9530 | intraday break level | S1 | 0.9350 | * | congestion | ||
| R3 | 0.9500 | * | congestion | S2 | 0.9335 | intraday low | ||
| R2 | 0.9450 | break level | S3 | 0.9300 | * | congestion | ||
| R1 | 0.9400 | ** | congestion | S4 | 0.9210 | ** | 5 Aug all-time low |
Asterisk denotes strength of level
09:10 BST - The anticipated break below 0.9350 is meeting support around 0.9335, as intraday studies turn higher, with prices currently balanced in cautious trade back above 0.9350. Further gains cannot be ruled out, but mixed daily and weekly charts are expected to limit scope in renewed selling interest beneath congestion resistance at 0.9400. An unexpected close above here would help to stabilise price action and prompt consolidation beneath 0.9450. Following cautious trade, fresh losses are looked for. A later close below 0.9350 will add weight to sentiment and extend mid-August losses initially to further congestion around 0.9300.