Published: 2025-07-23T08:32:09.000Z
Chart USD/CHF Update: Poised for further losses
Senior Technical Strategist
4
Cautious trade has given way to the anticipated break lower
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8200 | * | congestion | S1 | 0.7900 | congestion | ||
| R3 | 0.8170 | * | 50% ret of May-Jul fall | S2 | 0.7870~ | ** | 1 Jul YTD low | |
| R2 | 0.8100 | * | cong, 38.2% ret | S3 | 0.7850 | ** | 76.4% ret of 2011-2016 rally | |
| R1 | 0.8000 | ** | congestion | S4 | 0.7800 | congestion |
Asterisk denotes strength of level
09:20 BST - Cautious trade has given way to the anticipated break lower, with prices currently balanced around 0.7920. Daily stochastics are under pressure and the rising daily Tension Indicator is flattening, highlighting room for a test of congestion support at 0.7900. Rising weekly charts are also flattening, suggesting a deterioration in sentiment and potential for a break beneath here and extension of broad 2016 losses towards the 0.7850 Fibonacci retracement. Meanwhile, a close back above 0.8000, if seen, would help to stabilise price action and prompt fresh consolidation beneath 0.8100.