Published: 2025-03-20T09:23:53.000Z
Chart EUR/CHF Update: Edging higher in range
Senior Technical Strategist
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The test below congestion support at 0.9550 has bounced sharply from 0.9530
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9700 | ** | congestion | S1 | 0.9550 | congestion | ||
| R3 | 0.9650 | * | break level | S2 | 0.9500 | ** | break level | |
| R2 | 0.9635 | ** | 76.4% ret of Jul-Nov fall | S3 | 0.9450 | * | break level | |
| R1 | 0.9600 | ** | congestion | S4 | 0.9400 | * | congestion |
Asterisk denotes strength of level
09:10 GMT - The test below congestion support at 0.9550 has bounced sharply from 0.9530, as oversold intraday studies unwind, with prices currently trading around 0.9575. Focus is on congestion resistance at 0.9600, but negative daily readings are expected to limit any initial tests in further consolidation. Broader weekly charts are rising, but a close above resistance at the 0.9635 Fibonacci retracement and the 0.9650 break level is needed to turn sentiment positive and confirm continuation of broad November gains. Meanwhile, any immediate tests back below 0.9550 should be limited in consolidation above 0.9500.