Chart EUR/CHF Update: Consolidating - studies continue to rise
Little change, as mixed/negative intraday studies keep near-term sentiment cautious and prompt consolidation beneath congestion resistance at 0.9300
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9350 | * | break level | S1 | 0.9267 | ** | 31 Mar (m) high | |
| R3 | 0.9325 | * | congestion | S2 | 0.9230 | congestion | ||
| R2 | 0.9315 | 23 Jul high | S3 | 0.9200 | ** | break level | ||
| R1 | 0.9300 | ** | congestion | S4 | 0.9180 | ** | congestion |
Asterisk denotes strength of level
10:40 BST - Little change, as mixed/negative intraday studies keep near-term sentiment cautious and prompt consolidation beneath congestion resistance at 0.9300. Daily readings continue to rise, highlighting room for a retest above here towards the 0.9315 high of 23 July. But already overbought daily stochastics should limit any initial break in consolidation within the 0.9325 - 0.9350 range, before rising weekly charts extend March gains still further. Meanwhile, support remains at the 0.9267 monthly high of 31 March. A close beneath here, if seen, will turn sentiment neutral and prompt consolidation above congestion around 0.9230.