Chart USD/CHF Update: Balanced above 2025 year low - studies under pressure
Little change, as prices extend consolidation beneath resistance at 0.8200
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8332 | ** | 28 Dec 2023 (y) low | S1 | 0.8098 | ** | 11 Apr YTD low | |
| R3 | 0.8300 | ** | cong, Jan 2015 (y) low | S2 | 0.8000 | ** | figure | |
| R2 | 0.8268 | 14 Apr high | S3 | 0.7850 | ** | 76.4% ret of 2011-2016 rally | ||
| R1 | 0.8200 | minor congestion | S4 | 0.7710~ | ** | September 2011 (m) low |
Asterisk denotes strength of level
09:00 BST - Little change, as prices extend consolidation beneath resistance at 0.8200. Intraday studies have ticked higher and oversold daily stochastics are unwinding, highlighting potential for a renewed test above here. However, the negative daily Tension Indicator and bearish weekly charts are expected to limit scope in renewed selling interest beneath the 0.8268 high of 14 April. A close above here, if seen, would improve price action and open up 0.8300/32. Meanwhile, support remains at the 0.8098 current year low of 11 April. A close beneath here will add weight to sentiment and open up historic congestion around 0.8000. Further selling pressure will extend multi-year losses towards the 0.7850 multi-year Fibonacci retracement.