Chart EUR/CHF Update: Leaning lower
Little change, as prices extend pressure on support at 0.9150
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9350 | * | break level | S1 | 0.9150 | * | break level | |
| R3 | 0.9300 | ** | congestion | S2 | 0.9130 | 3 Nov low | ||
| R2 | 0.9250 | ** | congestion | S3 | 0.9100 | ** | congestion, 76.4% ret | |
| R1 | 0.9200 | ** | congestion | S4 | 0.9050 | ** | break level |
Asterisk denotes strength of level
11:30 GMT - Little change, as prices extend pressure on support at 0.9150. Intraday studies are under pressure and daily readings are also turning down, suggesting a deterioration in sentiment and room for fresh losses in the coming sessions. A close beneath here will add weight to sentiment and extend late-September losses below the 0.9130 low of 3 November towards strong support at 0.9100. However, flat oversold weekly stochastics could limit any initial tests in short-covering/consolidation, before deteriorating longer-term charts prompt further losses.
Meanwhile, resistance remains up to congestion around 0.9200 and should cap any immediate tests higher.