Chart USD/CHF Update: Consolidating - studies under pressure
Still little change, as mixed intraday studies and flat oversold daily stochastics keep near-term sentiment cautious
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8475~ | ** | May 2025 (m) high | S1 | 0.8225~ | * | 2 Oct (w) low, 38.2% ret | |
| R3 | 0.8395/00 | ** | 14 Oct YTD high; 50% ret | S2 | 0.8200 | * | congestion | |
| R2 | 0.8350 | * | break level | S3 | 0.8175 | ** | 50% ret of Aug-Oct rally | |
| R1 | 0.8300 | * | congestion lows | S4 | 0.8150 | congestion |
Asterisk denotes strength of level
09:20 BST - Still little change, as mixed intraday studies and flat oversold daily stochastics keep near-term sentiment cautious and extend cautious/choppy trade around 0.8250. The daily Tension Indicator continues to point lower and broader weekly charts are deteriorating, highlighting room for further losses in the coming sessions. A later close below strong support at 0.8225 will add weight to sentiment and extend mid-October losses below congestion support at 0.8200 towards the 0.8175 Fibonacci retracement.
Meanwhile, a close back above resistance at 0.8300 will prompt fresh consolidation beneath 0.8350.