Published: 2024-12-20T09:26:42.000Z
Chart EUR/CHF Update: Under pressure
Senior Technical Strategist
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Anticipated losses have reached congestion support at 0.9300
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9445/50 | * | 1 Nov (w) high; break level | S1 | 0.9300 | * | congestion | |
| R3 | 0.9417 | 17 Dec high | S2 | 0.9253 | * | 6 Dec (w) low | ||
| R2 | 0.9400 | ** | congestion | S3 | 0.9200/02 | ** | figure; 22 Nov all-time low | |
| R1 | 0.9350 | * | congestion | S4 | 0.9100 | figure |
Asterisk denotes strength of level
09:15 GMT - Anticipated losses have reached congestion support at 0.9300, where flattening oversold intraday studies are prompting choppy trade. Daily readings are under pressure, highlighting room for continuation down to the 0.9253 weekly low of 6 December. But mixed/positive weekly charts are expected to limit any initial tests in fresh consolidation. Meanwhile, a close above congestion resistance at 0.9350, if seen, would help to stabilise price action and prompt consolidation beneath further congestion around 0.9400.