Published: 2025-01-27T09:16:17.000Z
Chart USD/CHF Update: Extending January losses
Senior Technical Strategist
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Cautious trade around 0.9050 is giving way to anticipated losses
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9200 | * | cong, 13 Jan YTD high | S1 | 0.9000 | ** | congestion | |
| R3 | 0.9150 | * | congestion tops | S2 | 0.8965 | ** | 50% ret of Dec-Jan rally | |
| R2 | 0.9100 | ** | break level | S3 | 0.8900/10 | ** | congestion; 61.8% ret | |
| R1 | 0.9050 | * | congestion | S4 | 0.8840 | ** | 76.4% ret of Dec-Jan rally |
Asterisk denotes strength of level
09:05 GMT - Cautious trade around 0.9050 is giving way to anticipated losses, with sharp selling interest putting focus on congestion support at 0.9000. Daily readings are under pressure and broader weekly charts are deteriorating, highlighting potential for a later break beneath here and continuation of January losses towards the 0.8965 Fibonacci retracement. Meanwhile, a close back above 0.9050 will turn price action neutral once again and give way to renewed consolidation beneath 0.9100.