Published: 2025-08-07T08:19:30.000Z
Chart USD/CHF Update: Leaning lower
Senior Technical Strategist
2
Cautious trade is giving way to a drift lower
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8240 | ** | 61.8% ret of May-Jul fall | S1 | 0.8000 | ** | congestion | |
| R3 | 0.8200 | ** | congestion | S2 | 0.7900 | congestion | ||
| R2 | 0.8170 | * | 50% ret of May-Jul fall | S3 | 0.7850 | ** | 76.4% ret of 2011-2016 rally | |
| R1 | 0.8100 | * | congestion | S4 | 0.7800 | figure |
Asterisk denotes strength of level
09:10 BST - Cautious trade is giving way to a drift lower, with mixed intraday studies prompting consolidation around 0.8050. Daily readings are turning down, highlighting room for continuation down to congestion support at 0.8000. But rising weekly charts should limit any initial break beneath here in consolidation/short-covering above further congestion around 0.7900. Meanwhile, resistance remains at congestion around 0.8100. An unexpected close above here will turn sentiment neutral and give way to consolidation beneath critical resistance at the 0.8170 Fibonacci retracement.