Published: 2024-10-17T08:10:36.000Z
Chart EUR/CHF Update: Further consolidation
Senior Technical Strategist
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Still little change
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 0.9515 | ** | 76.4% ret of Aug-Sep fall | S1 | 0.9350 | * | congestion | |
R3 | 0.9500 | ** | congestion | S2 | 0.9300/07 | * | congestion; 11 Sep (m) low | |
R2 | 0.9450 | break level | S3 | 0.9210 | ** | 5 August all-time low | ||
R1 | 0.9400 | ** | congestion | S4 | 0.9200 | * | figure |
Asterisk denotes strength of level
09:05 BST - Still little change, as mixed intraday studies keep near-term sentiment cautious and extend consolidation just beneath congestion resistance at 0.9400. Daily readings are rising and broader weekly charts are improving, highlighting room for a later break and test of 0.9450. A further close above here will improve price action and open up stronger resistance within congestion around 0.9500 and the 0.9515 Fibonacci retracement. Meanwhile, congestion support at 0.9350 should underpin any immediate setbacks. A close beneath here, if seen, would open up 0.9300/07, where fresh range trade is expected to appear.