Published: 2025-03-19T09:30:35.000Z
Chart EUR/CHF Update: Potential for a minor pullback
Senior Technical Strategist
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Cautious trade has given way to a pullback
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9700 | ** | congestion | S1 | 0.9550 | congestion | ||
| R3 | 0.9650 | * | break level | S2 | 0.9500 | ** | break level | |
| R2 | 0.9635 | ** | 76.4% ret of Jul-Nov fall | S3 | 0.9450 | * | break level | |
| R1 | 0.9600 | ** | congestion | S4 | 0.9400 | * | congestion |
Asterisk denotes strength of level
09:20 GMT - Cautious trade has given way to a pullback, as intraday studies turn down, with prices currently consolidating the test of congestion support at 0.9550. Daily readings have turned down, highlighting room for a fresh test beneath here and a deeper corrective pullback towards 0.9500. However, rising weekly charts should limit any tests of here in renewed buying interest. Following corrective trade, fresh gains are looked for. However, a close above resistance at the 0.9635 Fibonacci retracement and the 0.9650 break level is needed to turn sentiment positive and confirm continuation of broad November gains.