Published: 2025-01-20T09:57:24.000Z
Chart EUR/CHF Update: Immediate gains to remain limited
Senior Technical Strategist
1
Cautious trade is giving way to a break higher
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9500 | ** | break level | S1 | 0.9350 | * | congestion | |
| R3 | 0.9485 | ** | 50% ret of Jul-Nov fall | S2 | 0.9300 | * | congestion | |
| R2 | 0.9445/50 | * | 1 Nov (m) high; break level | S3 | 0.9253 | * | 6 Dec (w) low | |
| R1 | 0.9400 | ** | congestion | S4 | 0.9200/02 | ** | cong; 22 Nov 2024 (y) low |
Asterisk denotes strength of level
09:50 GMT - Cautious trade is giving way to a break higher, with prices currently trading just above congestion resistance at 0.9400. Rising intraday studies and a tick higher in daily stochastics suggest potential for a move towards resistance at 0.9445/50. But the bearish daily Tension Indicator is expected to limit any initial tests in renewed consolidation. Meanwhile, support remains at congestion around 0.9350. Rising weekly charts should limit any immediate pullbacks in buying interest above here.