Published: 2026-05-22T08:08:37.000Z
Chart USD/CHF Update: Limited downside tests
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Consolidation is giving way to a drift lower
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8000 | ** | congestion | S1 | 0.7850 | * | congestion | |
| R3 | 0.7950 | * | congestion | S2 | 0.7800 | * | congestion | |
| R2 | 0.7925 | ** | 29 Apr (w) high | S3 | 0.7770 | ** | 61.8% ret of Jan-Mar rally | |
| R1 | 0.7900 | ** | congestion | S4 | 0.7750 | * | congestion |
Asterisk denotes strength of level
09:00 BST - Consolidation is giving way to a drift lower, as intraday studies turn down and overbought daily stochastics unwind, with focus turning to congestion support at 0.7850. A break beneath here cannot be ruled out. But the rising daily Tension Indicator and positive weekly charts should limit scope in renewed buying interest/consolidation above further congestion around 0.7800. Meanwhile, resistance remains at congestion around 0.7900 and extends to the 0.7925 weekly high of 29 April. A close above here would improve sentiment and extend early-May gains towards congestion around 0.7950.