Published: 2024-12-10T09:12:51.000Z
Chart EUR/CHF Update: Leaning lower
Senior Technical Strategist
1
The anticipated retest of congestion resistance at 0.9300 has given way to a pullback
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9445/50 | * | 1 Nov (w) high; break level | S1 | 0.9253 | * | 6 Dec (w) low | |
| R3 | 0.9400 | ** | congestion | S2 | 0.9200/02 | ** | figure; 22 Nov all-time low | |
| R2 | 0.9350 | * | congestion | S3 | 0.9150 | figure | ||
| R1 | 0.9300 | * | congestion | S4 | 0.9100 | * | figure |
Asterisk denotes strength of level
09:05 GMT - The anticipated retest of congestion resistance at 0.9300 has given way to a pullback, as intraday studies turn mixed/negative, with prices currently balanced around 0.9270~. Daily readings are under pressure and broader weekly charts are also turning down, highlighting room for further losses in the coming sessions. A break below support at the 0.9253 weekly low of 6 December is needed to add weight to sentiment, and open up a test of critical support at the 0.9202 all-time low of 22 November and 0.9200. Meanwhile, any tests above 0.9300 should meet selling interest towards further congestion around 0.9350.