Published: 2025-05-02T11:11:01.000Z
Chart EUR/CHF Update: Leaning lower
Senior Technical Strategist
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Anticipated minor tests higher have been pushed back from just below congestion resistance at 0.9400
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9550/55 | ** | congestion; 76.4% ret | S1 | 0.9350 | ** | congestion | |
| R3 | 0.9490/00 | ** | 61.8% ret; congestion | S2 | 0.9300 | ** | congestion | |
| R2 | 0.9435 | * | 50% ret of Mar-Apr fall | S3 | 0.9260 | break level | ||
| R1 | 0.9400 | * | congestion | S4 | 0.9212 | ** | 11 Apr YTD low |
Asterisk denotes strength of level
11:45 BST - Anticipated minor tests higher have been pushed back from just below congestion resistance at 0.9400, as overbought intraday studies unwind, with prices falling sharply to 0.9310 before bouncing back to trade just below congestion support at 0.9350. Daily readings have turned down, highlighting room for a fresh fall towards congestion around 0.9300. But mixed weekly charts are expected to limit any initial tests in renewed consolidation. Meanwhile, any fresh tests higher should give way to selling interest beneath congestion resistance at 0.9400.