Published: 2024-11-15T10:17:55.000Z
Chart EUR/CHF Update: Consolidating - gains to remain limited
Senior Technical Strategist
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Still little change, as prices extend consolidation above congestion support at 0.9350
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9515 | ** | 76.4% ret of Aug-Sep fall | S1 | 0.9350 | * | congestion | |
| R3 | 0.9500 | ** | congestion | S2 | 0.9327 | * | 24 Oct (w) low | |
| R2 | 0.9445/50 | * | 1 Nov (w) high; break level | S3 | 0.9300/07 | * | congestion; 11 Sep (m) low | |
| R1 | 0.9400 | ** | congestion | S4 | 0.9200/10 | ** | figure; 5 Aug all-time low |
Asterisk denotes strength of level
10:00 GMT - Still little change, as prices extend consolidation above congestion support at 0.9350. Intraday studies continue to rise, suggesting room for a test of congestion resistance at 0.9400. However, negative daily readings are expected to limit any break in fresh consolidation beneath 0.9445/50. Meanwhile, a close below 0.9350 would add weight to sentiment and open up strong support within 0.9300/07. But mixed/positive weekly charts are expected to prompt fresh consolidation around here.