Chart EUR/CHF Update: Consolidating
Little change, as prices extend cautious trade within the 0.9000 - 0.9050 range
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9180 | minor congestion | S1 | 0.9000 | ** | psychological | ||
| R3 | 0.9150 | ** | break level | S2 | 0.8980 | ** | 9 Mar YTD low | |
| R2 | 0.9100 | ** | break level | S3 | 0.8950 | * | figure | |
| R1 | 0.9050 | break level | S4 | 0.8900 | * | figure |
Asterisk denotes strength of level
10:55 GMT - Little change, as prices extend cautious trade within the 0.9000 - 0.9050 range. Intraday studies have turned down, suggesting room for a test lower towards support at 0.9000. But rising daily readings should limit any initial tests beneath here in renewed consolidation above critical support at the 0.8980 current year low of 9 March, before negative weekly charts prompt further losses. A close beneath here will turn sentiment negative and extend long-term bear trends, initially to 0.8950. Meanwhile, a close above resistance at 0.9050, if seen, should be limited in renewed selling interest/consolidation beneath 0.9100.