Chart EUR/CHF Update: Consolidating - background studies rising
Little change, as prices extend cautious trade following the test of congestion resistance at 0.9230
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9300 | ** | congestion | S1 | 0.9200 | ** | break level | |
| R3 | 0.9267 | ** | 31 Mar (m) high | S2 | 0.9180 | ** | congestion | |
| R2 | 0.9250 | ** | congestion | S3 | 0.9150 | ** | congestion | |
| R1 | 0.9230 | congestion | S4 | 0.9120 | intraday break level |
Asterisk denotes strength of level
11:25 BST - Little change, as prices extend cautious trade following the test of congestion resistance at 0.9230. Negative intraday studies and a tick lower in overbought daily stochastics highlight room for a minor test lower. But the positive daily Tension Indicator and improving weekly charts should limit any pullback in renewed buying interest above support at congestion around 0.9180 and the 0.9200 break level. Following cautious trade, fresh gains are looked for. A later break above 0.9230 will open up congestion around 0.9250. Just higher is the 0.9267 monthly high of 31 March, but any immediate tests of this range could give way to fresh consolidation.