Chart EUR/CHF Update: Edging higher
Little change, as flat overbought daily stochastics keep near-term sentiment cautious
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9400 | ** | congestion | S1 | 0.9300 | ** | congestion | |
| R3 | 0.9373 | * | 1 Oct (w) high | S2 | 0.9250 | break level | ||
| R2 | 0.9350 | ** | congestion | S3 | 0.9210/12 | ** | 11 Apr - 21 Oct YTD lows | |
| R1 | 0.9330 | congestion | S4 | 0.9200/02 | ** | figure; 18 Nov (y) low |
Asterisk denotes strength of level
10:55 GMT - Little change, as flat overbought daily stochastics keep near-term sentiment cautious and extend consolidation around 0.9310/15. However, the daily Tension Indicator is rising and broader weekly charts are positive, highlighting room for further strength in the coming sessions. Focus is expected to turn to congestion resistance within the 0.9330/50 range. But the flat weekly Tension Indicator is expected to limit any initial tests in renewed selling interest/consolidation. Meanwhile, any tests back below congestion support at 0.9300 are expected to be limited in consolidation above support at the 0.9250 break level.