Chart EUR/CHF Update: Leaning lower
Little change, as prices extend cautious trade above support at the 0.9125 Fibonacci retracement
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9225 | break level | S1 | 0.9125 | ** | 50% ret of March rally | ||
| R3 | 0.9200 | ** | break level | S2 | 0.9100 | ** | congestion | |
| R2 | 0.9180 | ** | congestion | S3 | 0.9090 | ** | 61.8% ret of March rally | |
| R1 | 0.9150 | ** | congestion | S4 | 0.9070 | break level |
Asterisk denotes strength of level
10:35 BST - Little change, as prices extend cautious trade above support at the 0.9125 Fibonacci retracement. Daily readings remains bearish and broader weekly charts are coming under pressure, highlighting room for further losses in the coming sessions. A break beneath here will add weight to sentiment and extend late-March losses towards congestion support at 0.9100. Just lower is the 0.9090 Fibonacci retracement. But already oversold daily stochastics could limit any initial tests of this range in short-covering/consolidation. Meanwhile, a close back above congestion resistance at 0.9150 will help to stabilise sentiment and prompt consolidation beneath further congestion around 0.9180.