Chart USD/CHF Update: Cautious trade - any gains to remain limited
Little change, as prices extend cautious trade beneath congestion resistance at 0.8150
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8250 | congestion | S1 | 0.8100 | * | congestion | ||
| R3 | 0.8220 | ** | 38.2% ret of 2025-2026 fall | S2 | 0.8050 | break level | ||
| R2 | 0.8200 | * | congestion | S3 | 0.8035 | * | 38.2% ret of May-Jul rally | |
| R1 | 0.8150 | congestion | S4 | 0.8000/10 | ** | congestion; 2 Jul (w) low |
Asterisk denotes strength of level
09:15 BST - Little change, as prices extend cautious trade beneath congestion resistance at 0.8150. Daily stochastics and the daily Tension Indicator continue to rise, suggesting room for a test above here. But bearish weekly charts should limit any break in renewed selling interest/consolidation beneath further congestion around 0.8200.
Following cautious/corrective trade, fresh losses are looked for. A later close below congestion support at 0.8100 will put prices into fresh consolidation above 0.8050. However, a further close below the 0.8035 Fibonacci retracement will add weight to sentiment and extend late-July losses below 0.8000/10 towards the 0.7985 retracement.