Published: 2025-08-07T10:34:10.000Z
Chart EUR/CHF Update: Extending gains
Senior Technical Strategist
-
The anticipated test of 0.9400 has extended
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9500 | * | congestion | S1 | 0.9350 | ** | congestion | |
| R3 | 0.9490/00 | ** | 61.8% ret; congestion | S2 | 0.9300 | ** | congestion | |
| R2 | 0.9435 | * | 50% ret of Mar-Apr fall | S3 | 0.9260 | break level | ||
| R1 | 0.9400 | * | congestion | S4 | 0.9212 | ** | 11 Apr YTD low |
Asterisk denotes strength of level
10:55 BST - The anticipated test of 0.9400 has extended, with prices meeting selling interest just beneath critical resistance at the 0.9435 Fibonacci retracement. Unwinding overbought intraday studies are prompting consolidation around congestion resistance at 0.9400. But the rising daily Tension Indicator and positive weekly charts highlight room for fresh gains in the coming sessions. However, a close above 0.9435 is needed to turn sentiment positive and extend April gains towards strong resistance at 0.9490/00. Meanwhile, support remains down to congestion around 0.9350 and should underpin any immediate setbacks.