Published: 2025-07-04T08:44:45.000Z
Chart USD/CHF Update: Consolidating - background studies under pressure
Senior Technical Strategist
-
Little change, as choppy trade gives way to fresh consolidation around 0.7935
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8250 | congestion | S1 | 0.7870~ | 1 Jul YTD low | |||
| R3 | 0.8200 | * | congestion | S2 | 0.7850 | ** | 76.4% ret of 2011-2016 rally | |
| R2 | 0.8100 | congestion | S3 | 0.7800 | figure | |||
| R1 | 0.8000 | ** | congestion | S4 | 0.7710 | ** | September 2011 low |
Asterisk denotes strength of level
09:30 BST - Little change, as choppy trade gives way to fresh consolidation around 0.7935. Oversold daily stochastics are unwinding and the bearish daily Tension Indicator is flattening, suggesting room for a fresh test higher towards congestion resistance at 0.8000. But mixed/negative weekly charts are expected to limit any break in renewed selling interest beneath 0.8100. Following cautious trade, fresh losses are looked for. Support is at the 0.7870~ current year low of 1 July. But a close below the 0.7850 Fibonacci retracement is needed to turn sentiment negative and extend December 2016 losses towards 0.7800.