Published: 2025-01-16T09:32:06.000Z
Chart EUR/CHF Update: Leaning lower
Senior Technical Strategist
-
The anticipated test above congestion resistance at 0.9400 has been pushed back from 0.9412
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9500 | ** | break level | S1 | 0.9350 | * | congestion | |
| R3 | 0.9485 | ** | 50% ret of Jul-Nov fall | S2 | 0.9300 | * | congestion | |
| R2 | 0.9445/50 | * | 1 Nov (m) high; break level | S3 | 0.9253 | * | 6 Dec (w) low | |
| R1 | 0.9400 | ** | congestion | S4 | 0.9200/02 | ** | cong; 22 Nov 2024 (y) low |
Asterisk denotes strength of level
09:15 GMT - The anticipated test above congestion resistance at 0.9400 has been pushed back from 0.9412, as intraday studies turn down, with prices drifting lower to currently trade around 0.9375. Daily readings are under pressure and overbought weekly stochastics are flattening, suggesting room for further slippage towards congestion support at 0.9350. A break will open up 0.9300, where by-then oversold daily stochastics are expected to prompt fresh consolidation. Meanwhile, a close above 0.9400, if seen, would turn sentiment neutral and prompt consolidation beneath 0.9445/50.