Published: 2025-04-17T08:21:39.000Z
Chart EUR/CHF Update: Potential for a minor test higher
Senior Technical Strategist
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Cautious trade is giving way to a minor test higher
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9500 | * | congestion | S1 | 0.9212 | * | 11 Apr YTD low | |
| R3 | 0.9400 | * | congestion | S2 | 0.9200/02 | ** | figure; 22 Nov all-time low | |
| R2 | 0.9350 | ** | congestion | S3 | 0.9150 | figure | ||
| R1 | 0.9300 | ** | congestion | S4 | 0.9100 | figure |
Asterisk denotes strength of level
09:15 BST - Cautious trade is giving way to a minor test higher, as intraday studies improve, with prices currently trading just above congestion resistance at 0.9300. Daily readings are also showing signs of improvement, suggesting room for a rise towards further congestion around 0.9350, where negative weekly charts are expected to promote renewed selling interest/consolidation. Following corrective trade, fresh losses are looked for. Support remains at the 0.9212 current year low of 11 April. But a close below critical support at 0.9200/02 will turn sentiment negative and post fresh all-time lows in increased selling pressure.