Chart USD/CHF Update: Cautious trade coming under pressure
Cautious trade is giving way to a pullback
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8250 | * | congestion, June 2025 high | S1 | 0.8100 | * | congestion | |
| R3 | 0.8220 | ** | 38.2% ret of 2025-2026 fall | S2 | 0.8050 | break level | ||
| R2 | 0.8200 | * | congestion | S3 | 0.8035 | * | 38.2% ret of May-Jul rally | |
| R1 | 0.8150 | congestion | S4 | 0.8000/10 | ** | congestion; 2 Jul (w) low |
Asterisk denotes strength of level
09:05 BST - Cautious trade is giving way to a pullback, as intraday studies turn down, with prices approaching congestion support at 0.8100. Daily readings are also coming under pressure, highlighting room for a later break. Focus will then turn to the 0.8050 break level and the 0.8035 Fibonacci retracement. However, broader weekly charts are mixed/negative, pointing to room for later continuation beneath here and extension of late July losses initially towards support within the 0.7985 - 0.8000/10 range.
Meanwhile, resistance remains at congestion around 0.8150. An unexpected close above here should meet renewed selling interest beneath further congestion around 0.8200.