Published: 2025-01-21T09:09:59.000Z
Chart USD/CHF Update: Limited tests higher
Senior Technical Strategist
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Anticipated losses have reached congestion support at 0.9050
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9224 | ** | 1 May 2024 (y) high | S1 | 0.9050 | * | congestion | |
| R3 | 0.9200 | * | cong, 13 Jan YTD high | S2 | 0.9000 | ** | congestion | |
| R2 | 0.9150 | * | congestion tops | S3 | 0.8965 | ** | 50% ret of Dec-Jan rally | |
| R1 | 0.9100 | ** | break level | S4 | 0.8900/10 | ** | congestion; 61.8% ret |
Asterisk denotes strength of level
09:00 GMT - Anticipated losses have reached congestion support at 0.9050, where unwinding oversold intraday studies and flattening oversold daily stochastics are prompting a bounce back to resistance at 0.9100. A test above here cannot be ruled out. But the negative daily Tension Indicator and deteriorating weekly charts should limit scope in renewed selling interest towards 0.9150. Following corrective trade, fresh losses are looked for. A later break below 0.9050 will add weight to sentiment and extend losses towards congestion around 0.9000. Beneath here is the 0.8965 Fibonacci retracement.