Chart EUR/CHF Update: Pressuring the 0.9135 Fibonacci retracement
Little change, as flat overbought daily stochastics keep near-term sentiment cautious
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9200 | ** | break level | S1 | 0.9100 | ** | break level | |
| R3 | 0.9180/85 | congestion; 50% ret | S2 | 0.9050 | break level | |||
| R2 | 0.9150 | ** | break level | S3 | 0.9000 | ** | psychological | |
| R1 | 0.9135 | * | 38.2% ret of Dec-Mar fall | S4 | 0.8980 | ** | 9 Mar YTD low |
Asterisk denotes strength of level
10:40 GMT - Little change, as flat overbought daily stochastics keep near-term sentiment cautious and prompt choppy trade beneath resistance at the 0.9135 Fibonacci retracement. The daily Tension Indicator is rising and broader weekly charts are also positive, highlighting room for later gains. A close above 0.9135 will improve sentiment and extend March gains beyond 0.9150 towards 0.9180/85. Overbought daily stochastics could prompt renewed profit-taking/consolidation towards here. Meanwhile, support remains at 0.9100. A close beneath here, if seen, should be limited to renewed buying interest/consolidation above the 0.9050 break level.