Published: 2025-07-21T08:15:33.000Z
Chart USD/CHF Update: Consolidating
Senior Technical Strategist
1
Little change, as prices extend cautious trade around congestion support at 0.8000
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8240 | ** | 61.8% ret of May-Jul fall | S1 | 0.8000 | ** | congestion | |
| R3 | 0.8200 | * | congestion | S2 | 0.7900 | congestion | ||
| R2 | 0.8170 | * | 50% ret of May-Jul fall | S3 | 0.7870~ | ** | 1 Jul YTD low | |
| R1 | 0.8100 | * | cong, 38.2% ret | S4 | 0.7850 | ** | 76.4% ret of 2011-2016 rally |
Asterisk denotes strength of level
09:10 BST - Little change, as prices extend cautious trade around congestion support at 0.8000. Intraday studies are under pressure and overbought daily stochastics are also unwinding, suggesting potential for a test beneath here. But the rising daily Tension Indicator and positive weekly charts are expected to limit any break in renewed buying interest above further congestion around 0.7900. Following cautious trade, fresh gains are looked for. Resistance remains at 0.8100. A later close above here will improve sentiment and extend July gains initially towards the 0.8170 Fibonacci retracement.