Published: 2024-12-03T07:02:08.000Z
Chart EUR/CHF Update: Extend consolidation below the .9330 congestion
Technical Analyst
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Little change, as prices extend consolidation below the .9330 congestion
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9500 | * | congestion | S1 | 0.9269 | 26 Nov low | ||
| R3 | 0.9445/50 | * | 1 Nov high, congestion | S2 | 0.9254 | ** | Dec 2023 year low | |
| R2 | 0.9400 | ** | congestion | S3 | 0.9210 | * | Aug low | |
| R1 | 0.9330/50 | * | congestion | S4 | 0.9202 | ** | 22 Nov YTD low |
Asterisk denotes strength of level
07:00 GMT - Little change, as prices extend consolidation below the .9330 congestion. The resulting pennant pattern and positive daily studies suggest room for break higher to extend bounce from the .9202 low. Clearing the .9330/0.9350 area will see potential for extension to the strong resistance at the .9400/.9445 area. However, negative weekly charts suggest corrective gains giving way to renewed selling pressure later for retest of the .9269 and .9254 support. Below these will open up retest of the critical support at the .9210 August low and .9202, 22 November all-time low.