Chart EUR/CHF Update: Consolidating - background studies improving
Little change, as prices extend consolidation around 0.9315/20
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9500 | ** | figure | S1 | 0.9300 | ** | congestion | |
| R3 | 0.9395/00 | ** | 8 Dec (m) high; cong | S2 | 0.9267 | ** | 31 Mar (m) high | |
| R2 | 0.9368 | 16 Dec (w) high | S3 | 0.9230 | congestion | |||
| R1 | 0.9350 | * | break level, 14 Jan YTD high | S4 | 0.9200 | ** | break level |
Asterisk denotes strength of level
10:20 BST - Little change, as prices extend consolidation around 0.9315/20. Negative daily stochastics have turned neutral and the daily Tension Indicator is flat, suggesting a cautious tone and room for further consolidation in the coming sessions. But broader weekly charts continue to rise, pointing to potential for later gains. Resistance is at 0.9350. A close above here will improve sentiment and extend March gains towards strong resistance at the 0.9395 monthly high of 8 December and congestion around 0.9400. Meanwhile, any fresh tests below congestion support at 0.9300 should be limited in renewed buying interest/consolidation above the 0.9267 monthly high of 31 March.