Chart EUR/CHF Update: Balanced beneath March highs
Anticipated gains have reached resistance at the 0.9267 monthly high of 31 March
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9350 | * | 14 Jan YTD high, congestion | S1 | 0.9230 | congestion | ||
| R3 | 0.9330 | * | range highs | S2 | 0.9200 | ** | break level | |
| R2 | 0.9300 | ** | congestion | S3 | 0.9180 | ** | congestion | |
| R1 | 0.9267 | ** | 31 Mar (m) high | S4 | 0.9150 | ** | congestion |
Asterisk denotes strength of level
10:40 - BST - Anticipated gains have reached resistance at the 0.9267 monthly high of 31 March, where unwinding overbought intraday studies are prompting selling interest and a pullback to 0.9250. A break beneath here will open up congestion around 0.9230. But rising daily readings and positive weekly charts should limit any tests in renewed buying interest. A close beneath here, if seen, will turn sentiment neutral and prompt consolidation within congestion above 0.9200. Following any corrective trade, fresh gains are looked for. A close above 0.9267 will turn sentiment positive and confirm continuation of March gains, initially towards congestion around 0.9300.