Published: 2025-02-19T09:15:11.000Z
Chart USD/CHF Update: Limited corrective gains
Senior Technical Strategist
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Cautious trade around 0.9000 has given way to a bounce
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9200 | ** | break level, 13 Jan YTD high | S1 | 0.9000 | ** | congestion | |
| R3 | 0.9150 | * | congestion tops | S2 | 0.8965 | ** | 50% ret, 27 Jan YTD low | |
| R2 | 0.9100 | ** | break level | S3 | 0.8900/10 | ** | break level; 61.8% ret | |
| R1 | 0.9050 | * | congestion | S4 | 0.8840 | ** | 76.4% ret of Dec-Jan rally |
Asterisk denotes strength of level
09:00 GMT - Cautious trade around 0.9000 has given way to a bounce, with prices currently pressuring congestion resistance at 0.9050. Oversold daily stochastics are unwinding and the bearish daily Tension Indicator is flattening, suggesting potential for a test above here towards 0.9100. However, negative weekly charts are expected to prompt renewed selling interest towards here and limit any tests in consolidation. Meanwhile, support is raised to 0.9000. But a close below 0.8965 is needed, not yet seen, to turn sentiment negative and extend January losses towards strong support at 0.8900/10.