Chart EUR/CHF Update: Cautious trade
Consolidation above 0.9425 has given way to a drift higher
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9550 | * | congestion | S1 | 0.9400 | * | congestion | |
| R3 | 0.9500 | * | congestion | S2 | 0.9375 | congestion | ||
| R2 | 0.9475 | * | 14 Sep YTD high | S3 | 0.9350 | * | break level | |
| R1 | 0.9455 | * | 50% ret of 2024-2026 fall | S4 | 0.9300/07 | ** | cong; 19-20 Aug (w) low |
Asterisk denotes strength of level
11:20 BST - Consolidation above 0.9425 has given way to a drift higher, with prices currently balanced in fresh consolidation just beneath the 0.9455 Fibonacci retracement. Rising intraday studies highlight room for a retest above here. But deteriorating daily readings should limit scope in renewed selling interest beneath critical resistance at the 0.9475 current year high of 14 September. Broader weekly charts are mixed/positive, but a close above here is needed to improve sentiment and extend gains from the 0.8980 current year low of 9 March towards congestion around 0.9500.
Meanwhile, support remains down to congestion around 0.9400 and should underpin any immediate setbacks.