Chart EUR/CHF Update: Leaning lower in range
The anticipated test higher has met selling interest just beneath congestion resistance at 0.9400
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9515 | ** | 76.4% ret of Aug-Sep fall | S1 | 0.9350 | * | congestion | |
| R3 | 0.9500 | ** | congestion | S2 | 0.9327 | * | 24 Oct (w) low | |
| R2 | 0.9445/50 | * | 1 Nov (w) high; break level | S3 | 0.9300/07 | * | congestion; 11 Sep (m) low | |
| R1 | 0.9400 | ** | congestion | S4 | 0.9200/10 | ** | figure; 5 Aug all-time low |
Asterisk denotes strength of level
09:50 GMT - The anticipated test higher has met selling interest just beneath congestion resistance at 0.9400, as overbought intraday studies unwind, with prices falling steadily to congestion support at 0.9350. Daily readings are mixed/negative and broader weekly charts are coming under pressure, highlighting a deterioration in sentiment and room for further losses in the coming sessions. A break below 0.9350 will add weight to sentiment, and extend losses below the 0.9327 weekly low of 24 October towards strong support within 0.9300/07. Meanwhile, a close above 0.9400, if seen, will extend gains towards 0.9445/50, where renewed selling interest is expected to appear.