Published: 2024-09-10T08:28:28.000Z
Chart EUR/CHF Update: Further consolidation - background remains under pressure
Senior Technical Strategist
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Little change, as mixed intraday studies keep near-term sentiment cautious
| 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
09:15 BST - Little change, as mixed intraday studies keep near-term sentiment cautious and extend consolidation above congestion support at 0.9350. Oversold daily stochastics are unwinding, suggesting potential for a drift higher towards congestion resistance at 0.9400. But the flat/negative daily Tension Indicator and mixed/negative weekly charts should limit any break in renewed selling interest towards 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.