Published: 2025-04-23T11:46:01.000Z
Chart EUR/CHF Update: Room for still higher
Senior Technical Strategist
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Anticipated gains have extended to congestion resistance at 0.9400
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9550/55 | ** | congestion; 76.4% ret | S1 | 0.9350 | ** | congestion | |
| R3 | 0.9490/00 | ** | 61.8% ret; congestion | S2 | 0.9300 | ** | congestion | |
| R2 | 0.9435 | * | 50% ret of Mar-Apr fall | S3 | 0.9260 | break level | ||
| R1 | 0.9400 | * | congestion | S4 | 0.9212 | * | 11 Apr YTD low |
Asterisk denotes strength of level
12:05 BST - Anticipated gains have extended to congestion resistance at 0.9400, where mixed intraday studies are prompting short-term reactions. Daily readings continue to rise, suggesting room for a break above here towards the 0.9435 Fibonacci retracement. But mixed/negative weekly charts are expected to limit any initial tests in consolidation. A break, however, will open up stronger resistance at 0.9490/00, where more significant reactions are looked for. Meanwhile, support is raised to congestion around 0.9350. A close beneath here will turn sentiment neutral and give way to consolidation above further congestion around 0.9300.