Published: 2025-01-24T09:38:54.000Z
Chart USD/CHF Update: Under pressure
Senior Technical Strategist
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Choppy trade has given way to anticipated losses
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9200 | * | cong, 13 Jan YTD high | S1 | 0.9000 | ** | congestion | |
| R3 | 0.9150 | * | congestion tops | S2 | 0.8965 | ** | 50% ret of Dec-Jan rally | |
| R2 | 0.9100 | ** | break level | S3 | 0.8900/10 | ** | congestion; 61.8% ret | |
| R1 | 0.9050 | * | congestion | S4 | 0.8840 | ** | 76.4% ret of Dec-Jan rally |
Asterisk denotes strength of level
09:20 GMT - Choppy trade has given way to anticipated losses. The break below 0.9050 has turned sentiment negative and put focus on congestion support at 0.9000. Daily readings are coming under fresh pressure and broader weekly charts are deteriorating, highlighting potential for a later break beneath here and continuation of January losses towards the 0.8965 Fibonacci retracement. Meanwhile, a close back above 0.9050 will turn price action neutral once again and give way to renewed consolidation beneath 0.9100.