Published: 2025-02-21T09:08:21.000Z
Chart USD/CHF Update: Under pressure
Senior Technical Strategist
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The anticipated break below 0.9000 is giving way to consolidation above strong support at 0.8965
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9150 | * | congestion tops | S1 | 0.8965 | ** | 50% ret, 27 Jan YTD low | |
| R3 | 0.9100 | ** | break level | S2 | 0.8900/10 | ** | break level; 61.8% ret | |
| R2 | 0.9050 | * | congestion | S3 | 0.8840 | ** | 76.4% ret of Dec-Jan rally | |
| R1 | 0.9000 | ** | congestion | S4 | 0.8800 | ** | congestion |
Asterisk denotes strength of level
09:00 GMT - The anticipated break below 0.9000 is giving way to consolidation above strong support at 0.8965, as oversold intraday studies unwind. However, daily readings have turned down and broader weekly charts are negative, highlighting room for further losses in the coming sessions. A close beneath here will add weight to sentiment, confirm a near-term top in place at the 0.9200 current year high of 13 January and extend January losses towards strong support at 0.8900/10. Meanwhile, a close back above 0.9000, if seen, should give way to consolidation beneath further congestion around 0.9050.