Published: 2025-05-07T08:33:07.000Z
Chart EUR/CHF Update: Limited tests higher
Senior Technical Strategist
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Cautious trade has given way to a push higher
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9550/55 | ** | congestion; 76.4% ret | S1 | 0.9350 | ** | congestion | |
| R3 | 0.9490/00 | ** | 61.8% ret; congestion | S2 | 0.9300 | ** | congestion | |
| R2 | 0.9435 | * | 50% ret of Mar-Apr fall | S3 | 0.9260 | break level | ||
| R1 | 0.9400 | * | congestion | S4 | 0.9212 | ** | 11 Apr YTD low |
Asterisk denotes strength of level
09:20 BST - Cautious trade has given way to a push higher, with the break above 0.9350 opening up congestion resistance at 0.9400. Intraday studies have ticked higher and daily readings are showing minor improvement, suggesting potential for a test above here. But mixed weekly charts should limit initial scope in consolidation beneath the 0.9435 Fibonacci retracement. Meanwhile, support is raised to congestion around 0.9350. A break back beneath here, if seen, will open up 0.9300, where fresh buying interest is expected to appear.