Published: 2025-01-13T09:18:53.000Z
Chart USD/CHF Update: Choppy at local highs
Senior Technical Strategist
-
The anticipated break above 0.9150 is meeting selling interest around 0.9188
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9300 | ** | break level | S1 | 0.9150 | * | congestion tops | |
| R3 | 0.9224 | ** | 1 May 2024 (y) high | S2 | 0.9100 | ** | break level | |
| R2 | 0.9200 | * | congestion | S3 | 0.9050 | * | congestion | |
| R1 | 0.9188 | 10 Jan (w) high | S4 | 0.9000 | ** | congestion |
Asterisk denotes strength of level
08:55 GMT - The anticipated break above 0.9150 is meeting selling interest around 0.9188, as intraday studies turn down, with prices currently balanced in consolidation above 0.9150. A break beneath here will open up support at 0.9100, but positive daily readings are expected to limit any initial tests in consolidation. Meanwhile, a break above 0.9188 will turn sentiment cautiously positive and extend September gains towards critical resistance at the 0.9224 year high of 1 May 2024. But flattening overbought weekly stochastics should prompt fresh selling interest/consolidation towards here.