Chart EUR/CHF Update: Lower in range
The anticipated minor test above resistance at 0.9150 has not been seen
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9218 | * | 2 Feb (w) high | S1 | 0.9090/00 | ** | 19 Feb YTD low; cong | |
| R3 | 0.9200 | * | congestion | S2 | 0.9000 | ** | psychological | |
| R2 | 0.9180 | minor congestion | S3 | 0.8900 | * | figure | ||
| R1 | 0.9150 | ** | range lows | S4 | 0.8800 | * | figure |
Asterisk denotes strength of level
11:05 GMT - The anticipated minor test above resistance at 0.9150 has not been seen, as intraday studies turn down once again, with prices currently balanced around 0.9120. Focus is on critical support at the 0.9090 current year low of 19 February and congestion around 0.9100. But rising daily readings should limit any immediate tests in consolidation. Broader weekly charts are mixed/negative, highlithting room for further losses. But a close beneath here is needed to turn sentiment negative and extend long-term bear trends towards psychological support at 0.9000. Meanwhile, a close above 0.9150, if seen, should give way to consolidation beneath congestion around 0.9180.