Chart EUR/CHF Update: Cautious trade
Little change, as prices extend cautious trade above congestion support at 0.9230
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9330 | * | congestion highs | S1 | 0.9230 | congestion | ||
| R3 | 0.9300 | ** | congestion | S2 | 0.9200 | ** | break level | |
| R2 | 0.9280 | ** | 14 Jul (w) high | S3 | 0.9180 | ** | congestion | |
| R1 | 0.9267 | ** | 31 Mar (m) high | S4 | 0.9150 | ** | congestion |
Asterisk denotes strength of level
11:50 BST - Little change, as prices extend cautious trade above congestion support at 0.9230. Daily readings are mixed/negative, suggesting room for a test beneath here. But rising weekly charts should limit any break in renewed buying interest above 0.9200. A close below congestion support at 0.9180 would turn sentiment negative and extend July losses towards 0.9150. Following cautious trade, fresh gains are looked for. Resistance is at the 0.9267 monthly high of 31 March. But a close above the 0.9280 weekly high of 14 July would turn sentiment positive and confirm continuation of March gains, initially towards congestion around 0.9300.