Chart USD/CHF Update: Consolidating - studies under pressure
Little change, as mixed/negative intraday studies keep near-term sentiment cautious
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9300 | ** | break level | S1 | 0.9100 | ** | break level | |
| R3 | 0.9224 | ** | 1 May 2024 (y) high | S2 | 0.9050 | * | congestion | |
| R2 | 0.9200 | * | cong, 13 Jan YTD high | S3 | 0.9000 | ** | congestion | |
| R1 | 0.9150 | * | congestion tops | S4 | 0.8965 | ** | 50% ret of Dec-Jan rally |
Asterisk denotes strength of level
09:05 GMT - Little change, as mixed/negative intraday studies keep near-term sentiment cautious and prompt cautious trade above support at 0.9100. Daily stochastics and the daily Tension Indicator continue to track lower, highlighting a deterioration in sentiment and room for further losses in the coming sessions. A break below 0.9100 will add weight to sentiment and open up congestion around 0.9050. However, mixed/positive weekly charts are expected to limit any initial break beneath here in renewed buying interest/consolidation above 0.9000. Meanwhile, resistance remains at 0.9150. A close above here, if seen, will turn sentiment neutral and give way to consolidation beneath strong resistance at 0.9200.