Published: 2025-05-27T08:39:31.000Z
Chart USD/CHF Update: Gains to remain limited
Senior Technical Strategist
1
Consolidation around congestion support at 0.8200 is giving way to a bounce
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8500 | ** | congestion | S1 | 0.8200 | * | congestion | |
| R3 | 0.8480 | ** | 38.2% ret of Jan-Apr fall | S2 | 0.8100 | minor congestion | ||
| R2 | 0.8400 | * | congestion | S3 | 0.8038 | ** | 21 Apr YTD low | |
| R1 | 0.8300 | ** | congestion | S4 | 0.8000 | ** | figure |
Asterisk denotes strength of level
09:15 BST - Consolidation around congestion support at 0.8200 is giving way to a bounce, as oversold intraday studies unwind, with prices currently trading around 0.8250. Focus is turning to congestion resistance at 0.8300. But negative daily readings and mixed weekly charts are expected to limit any tests in fresh consolidation. A close above here, however, will improve sentiment and open up further congestion around 0.8400, where fresh selling interest is expected to appear. Meanwhile, a close below 0.8200, if seen, will give way to renewed consolidation above further congestion around 0.8100.