Published: 2025-04-25T10:51:53.000Z
Chart EUR/CHF Update: Further gains to remain limited
Senior Technical Strategist
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The anticipated test of resistance at the 0.9435 Fibonacci retracement is giving way to expected consolidation
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9600 | ** | congestion | S1 | 0.9400 | * | congestion | |
| R3 | 0.9550/55 | ** | congestion; 76.4% ret | S2 | 0.9350 | ** | congestion | |
| R2 | 0.9490/00 | ** | 61.8% ret; congestion | S3 | 0.9300 | ** | congestion | |
| R1 | 0.9435 | * | 50% ret of Mar-Apr fall | S4 | 0.9260 | break level |
Asterisk denotes strength of level
11:30 BST - The anticipated test of resistance at the 0.9435 Fibonacci retracement is giving way to expected consolidation, as intraday studies turn down. The daily Tension Indicator continues to rise, suggesting potential for a fresh test above here. But flattening overbought daily stochastics and deteriorating weekly charts should limit scope in renewed selling interest beneath 0.9490/00. In the coming sessions, consolidation is looked for, with support at congestion around 0.9400. A break will open up further congestion around 0.9350, where renewed buying interest is expected to appear.