Chart USD/CHF Update: Under pressure in both USD- and CHF-driven trade
Cautious trade beneath congestion resistance at 0.8150 is giving way to a pullback in both USD- and CHF-driven trade
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8220 | ** | 38.2% ret of 2025-2026 fall | S1 | 0.8050 | break level | ||
| R3 | 0.8200 | * | congestion | S2 | 0.8035 | * | 38.2% ret of May-Jul rally | |
| R2 | 0.8150 | congestion | S3 | 0.8000/10 | ** | congestion; 2 Jul (w) low | ||
| R1 | 0.8100 | * | congestion | S4 | 0.7985 | * | 50% ret of May-Jul rally |
Asterisk denotes strength of level
09:15 BST - Cautious trade beneath congestion resistance at 0.8150 is giving way to a pullback in both USD- and CHF-driven trade, with the break below 0.8100 currently trading around 0.8080. Intraday studies are falling and daily readings are coming under pressure, highlighting room for a test of support at 0.8050. Just lower is the 0.8035 Fibonacci retracement. A further close beneath here will add weight to sentiment and extend late-July losses initially towards support within the 0.7985 - 0.8000/10 range.
Meanwhile, a close back above 0.8100, if seen, will help to stabilise price action and prompt fresh consolidation beneath 0.8150.