Chart USD/CHF Update: Fresh year high
Anticipated gains have posted a fresh year high just above congestion resistance at 0.8250
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8350 | * | late-May 25 (w) high | S1 | 0.8150 | congestion | ||
| R3 | 0.8300 | congestion | S2 | 0.8100 | * | congestion | ||
| R2 | 0.8265 | * | 16 Sep YTD high | S3 | 0.8050 | break level | ||
| R1 | 0.8250 | * | congestion | S4 | 0.8000 | ** | congestion |
Asterisk denotes strength of level
09:25 BST - Anticipated gains have posted a fresh year high just above congestion resistance at 0.8250, before settling back into consolidation around here, as overbought intraday studies unwind. Overbought daily stochastics are also flattening, suggesting room for a deeper retracement towards further congestion around 0.8150. But the positive daily Tension Indicator should limit any tests in renewed buying interest.
Following cautious/corrective trade, fresh gains are looked for. A later close above the 0.8265 fresh year high of 16 September will improve sentiment and extend January gains, initially towards congestion around 0.8300.