Chart EUR/CHF Update: Pressuring critical resistance at 0.9475/80
Choppy trade around 0.9460 is giving way to a fresh push higher
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9565 | ** | 61.8% ret of 2024-2026 fall | S1 | 0.9450 | * | congestion | |
| R3 | 0.9550 | * | break level | S2 | 0.9400 | * | congestion | |
| R2 | 0.9500 | * | congestion | S3 | 0.9375 | congestion | ||
| R1 | 0.9475/80 | * | 14-17 Sep YTD highs | S4 | 0.9350 | * | break level |
Asterisk denotes strength of level
11:50 BST - Choppy trade around 0.9460 is giving way to a fresh push higher, as daily readings continue to rise, with prices once again pressuring critical resistance at the 0.9475/80 current year highs from mid-September. Overbought weekly stochastics area edging lower and the positive weekly Tension Indicator is flattening, suggesting potential for fresh consolidation around here. But longer-term charts are positive, pointing to a later break and continuation of March gains beyond congestion resistance at 95.00.
Meanwhile, support remains at congestion around 0.9450. A close beneath here, if seen, will turn sentiment neutral and delay higher levels, as prices then settle into consolidation above further congestion around 0.9400.